HYDERABAD: Justice G Radha Rani of the high court on Friday stayed for three days proceedings before ED special court against Stylish Holmes director Tummala Ranga Rao in the Emaar case. The judge gave this interim direction while hearing a petition filed by Ranga Rao, who questioned the action of ED that made him an accused in Emaar case.
The crux of his grievance was the scam was investigated by CBI in the past.
Though CBI had initially made him an accused, later it turned him as its witness following his decision to become an approver. CBI court too allowed the request of the agency and changed his status from an accused to a witness. Now, in the same case, ED had made him an accused. CBI court, had taken the chargesheet of ED on file and passed a cognizance order.
This means Ranga Rao would have to appear before the court as accused when it was acting as the ED court and as a witness when the court was performing its role as a CBI court.
Allegation CBI initially against Ranga Rao was he and his firm, Stylish Holmes, acted in a manner that caused loss to APIIC in the Emaar-APIIC joint venture. After Ranga Rao turned approver, CBI filed another report before CBI court saying 96 crore was misappropriated in the villa deals. According to Rao, ED built its case on foundation of CBI case. He contended he was ready to assist ED as its witness instead. The case will come up for hearing on January 25.
