This Article is From Jan 24, 2013

Disproportionate assets case: Andhra Pradesh High Court dismisses Jaganmohan Reddy's bail plea

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Hyderabad: The Andhra Pradesh High Court today dismissed the regular bail petition of YSR Congress chief Y S Jaganmohan Reddy in connection with an alleged disproportionate assets case involving him.

The High Court had on December 24 dismissed the statutory bail plea of Mr Reddy.

The CBI had on January 22 alleged before the High Court that it was unable to speed up the investigation into Mr Reddy's case owing to the non-cooperation of the state government.

The Kadapa MP's lawyer had argued that he is entitled to bail as the CBI failed to complete the investigations and file the chargesheet in all aspects despite the directions of the Supreme Court.

The CBI, however, contended that the bail petition was not maintainable in accordance with the Supreme Court order, which had said that Mr Reddy had the liberty to approach the trial court for bail after the filing of the final chargesheet.

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On November 28, a special CBI court had dismissed his statutory bail petition observing that "granting bail at this stage of pending investigation will not only impede the investigation, but also infringe the avowed purpose set out by the Supreme Court in its order".

His second bail plea was also dismissed subsequently on December 4 after which Mr Reddy moved the High Court and filed two bail petitions.

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VANPIC project's promoter (industrialist Nimmagadda Prasad) allegedly invested Rs 854 crore in the companies belonging to Mr Reddy towards a largesse for which the then Andhra Pradesh government, led by late YS Rajasekhara Reddy, doled out many favours in the form of awarding the project.

Mr Reddy, who was arrested on May 27 by CBI on corruption charges, is presently under judicial remand and lodged at the Chanchalguda Central Prison.

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The Central agency had submitted a progress report on the ongoing investigation into the alleged illegal assets of Kadapa MP to the Andhra Pradesh High Court on January 4.

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