[1]The family of AP home secretary, Mr B.P. Acharya, prime accused in the Emaar Properties case, acquired prime commercial property at a very low price on the Khairatabad main road, according to documents in the possession of this newspaper.
Value Infrastructure and Properties Pvt. Ltd (VIPL), which owns Surana House opposite the RTA office in Khairatabad, sold the third floor in the complex to Mr Acharya’s mother-in-law, Ms Manjit Rakkar, at half the price at which it sold the fifth-floor to another person five months before.
Significantly, VIPL director Narender Surana, who executed the sale deed, is also the MD of Surana Ventures, which was allotted 2.5 acres in Hardware Park and 10 acres in Fab City by the AP Industrial Infrastructure Corporation when Mr Acharya was its managing director. The corporation also permitted the Suranas to convert their industrial plot in Uppal into the IT park.
Registration documents available with this newspaper reveal that the property was first registered in the name of Ms Rakkar, who later “gifted” it to her grandson Nikhil Acharya “in consideration to the natural love and affection” she has towards him.
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