The special court for CBI cases agreed with CBI lawyer that Acharya may tamper with evidence if released.
The 1983-batch officer, who was the Andhra Pradesh Home Secretary when arrested by CBI on January 31, is in judicial custody.
The CBI had strongly opposed Acharya's bail application and accused the Andhra Pradesh government of "intentionally" delaying sanction to prosecute him. It had also alleged that he himself was "influencing" some senior officials in the Secretariat.
But Acharya's lawyer had contended that the charge sheet (in Emaar case) had already been filed and there was no question of tampering with evidence or threatening witnesses.
CBI has accused Acharya, who was former CMD of Andhra Pradesh Industrial Infrastructure Corporation (APIIC), of entering into a criminal conspiracy with officials of realty firm Emaar Group and unknown public servants to cheat state- run APIIC in the joint Integrated Township Project at Gachibowli. PTI VVK KRK