Land allotments and execution of joint ventures for past several years under scanner
The Vigilance & Enforcement Department, which inspected the records in Raheja IT Park and Emaar MGF on Tuesday, is mainly probing the role of the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for any acts of omission and commission in land allotments and execution of its joint venture agreements for the past several years.
The V&E Department is acting on complaints it received about the way private companies were facilitated by APIIC officials and the previous board to alter the original joint venture agreements and MoUs and to garner concessions in the deviation of norms that resulted in a loss to the State exchequer.
Therefore, sources said, the Vigilance Department is within its right to search the offices of the private joint venture partners of APIIC. It started its investigation first with the APIIC offices and took away important files and documents pertaining to various joint venture projects of the corporation right from 1997.
Sources said that the role of previous board members and officials would come under the scrutiny of the Vigilance wing for any lapses and it would submit a report of its findings to the Government.
Meanwhile, APIIC Board Chairman Shivarama Subramanyam said that the corporation would pursue its action against Emaar Properties for recovering its 26 per cent share in the integrated township project at Nanakramguda.
The corporation, which served a notice to Emaar for several deviations from the mother document resulting in loss to the Government, is awaiting its response.