ORDER

This criminal petition has been filed by the petitioner/A.13-Madhu Koneru to quash the pre-charge and post cognizance proceedings pending against him in C.C.No.6 of 2012 on the file of the learned Principal Special Judge for CBI Cases, Hyderabad.

2. The brief case of the prosecution is that a Joint Venture Company by name M/s Emaar Hills Township Private Limited (EHTPL-A3) was formed in 2003 between Emaar Properties PJSC, Dubai(Emaar-A2) and M/s APIIC to develop 353 acres of land in Gachibowli in the ratio of 74:26 in profits in 2006. M/s Emaar, the partner of M/s EHPTL without the knowledge of APIIC in violation of agreement of various Government rules entered into partnership with another sister company known as M/s EMAAR MGF(A4) to develop the same piece of land in Gachibowli in the ratio of 75:25 in revenue i.e. M/s EMAAR MGF-A4 will hold 75% interest and M/s EHTPL-A3 will hold 25%. Hence accordingly, the stake of M/s APIIC in this project has changed to 6.5% of revenue as opposed to 26% in profits. By way of reduction of share of M/s APIIC to 6.5%, their partner M/s EMAAR MGF alone was allegedly benefited about Rs.2,500 crores. M/s Emaar MGF sold the plots for the villas a