Monday, Sep 23, 2013
Hyderabad: A Central Bureau of Investigation (CBI) court in Hyderabad granted bail to YSR Congress Party president and member of Parliament Y.S. Jaganmohan Reddy in a disproportionate assets case on Tuesday.
The court, dismissing the CBI’s strong opposition to the bail on the ground that the influential accused can frustrate the process of a fair trial if freed, ordered that Jagan may be released on bail on two sureties of Rs200,000 (Dh11,733) each.
The court also imposed the condition that Reddy should not leave Hyderabad and should not try to influence any of the witnesses of the case.
The court told the CBI that if the accused violates any condition of the bail, it may approach the court for the cancellation of his bail.
Arrested on May 27, 2012, Reddy spent nearly 16 months in Chanchalguda jail of Hyderabad.
The CBI also told the court that it had completed the investigations in accordance with the orders of the High Court. The CBI has charged Reddy with corruption, cheating, misuse of power.
It is alleged that various companies owned by Reddy had got huge investments from other companies as payment for favours from the state government when his father was Chief Minister.
Apart from the industrialists like Nimmagadda Prasad and Srinivasan (former BBCI chairman), the CBI has also included the names of ministers Sabita Indra Reddy, Dharmana Prasad and J. Geeta Reddy and former minister M. Venkatramana in the charge sheets.
The companies from whom Reddy first got the investments as quid pro quo include Aurobindo Pharma Ramky Group, Dalmia Cement and India Cement, Penna Group, Lepakshi Knowledge Hub, Indu Group and Indu Techzone.
Reddy was also facing charges of cheating individual investors to the tune of Rs346 million. CBI also alleged that Reddy had prejudiced the public exchequer to the tune of several billions and enriched himself through illegal means.
As news of Reddy’s bail spread, his supporters celebrated outside his house and party offices in Jubilee Hills, at the court premises in Nampally. Reports of similar celebrations were also coming from Kadapa and Pulivendula, where his supporters began processions, burst crackers and distributed sweets.
Reddy had moved a fresh bail application before the CBI court hearing his case on the ground that as president of YSRCP he need to be with the people when they were agitating against the bifurcation of Andhra Pradesh. But the court condition that he should not go out of Hyderabad will come in the way of his getting involved in the agitation in support of united Andhra Pradesh.
By Mohammed Siddique Correspondent
Gulf News 2013. All rights reserved.
