Three accused in the Emaar Properties land deal case have urged a special court here not to allow charges to be levelled against them by the CBI since there is no ground for the charges.
Arguing for Shravan Gupta, Srikanth Joshi and V.V. Vijay Raghav, the three accused in the case, their counsel Diljeet Singh Ahluwalia tried to impress upon the court on Thursday the fact that the AP Industrial Infrastructure Corporation (APIIC) had taken three years to raise objection to its reduced share in the joint venture.
The decision to reduce APIIC’s stake was taken by a special purpose vehicle that had two representatives of the corporation, he said. In spite of that there was no loss caused to APIIC due to the blocking of the plots as they were never sold. On the Rs. 6.8 crores cash seized by the ED and the allegation by the CBI that the balance-sheet showing the amount as cash in hand was prepared after the ED seizure, the counsel submitted to the court balance-sheets of previous years, where too the amount was shown as cash in hand. The court posted the case to April 24.