The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has informed the High Court that it was deceived by its private partner Emaar Properties of Dubai in all respects and due to this deceit, it could not receive a single rupee of income so far despite the sale of crores worth of its plots and villas.
The corporation was responding to a direction given by the HC which, while hearing a writ petition earlier, asked the corporation to file its reply to the contentions raised in the petition.
This petition was taken up based on a letter written by the state handlooms minister P Sankara Rao, who charged the authorities with conniving with private players and causing loss to the state exchequer. "We entered into an agreement with Emaar Properties of Dubai to develop the land into township, golf course and other facilities. But by keeping our corporation in dark, the Emaar properties entered into clandestine agreements with Emaar-MGF and Stylish Homes companies only with an intention to defraud us", the APIIC's general manager (law) A Rashmi said in her counter.
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