Hyderabad, April 30 (IANS) A special court has again granted bail to Vijay Sai Reddy, an aide of YSR Congress party leader Y.S. Jaganmohan Reddy, in the latter’s illegal assets case.
The second additional CBI court Monday granted conditional bail to Vijay Sai Reddy, directing him not to leave Hyderabad and to cooperate with the investigating agency.
Justice Nagamurthi Sarma also dismissed the CBI plea to suspend the bail verdict for three days.
Following the court order, Vijay Sai Reddy was released from Chanchalguda Central Jail.
The same judge, on April 13 had granted bail but it was cancelled by the Andhra Pradesh High Court April 20. The high court had also asked the lower court to hear the arguments of both the parties afresh. Following this, Vijay Sai Reddy surrendered before the CBI court April 23.
Vijay Sai Reddy’s counsel Susheel Kumar argued that he was not a conspirator in the case and was eligible for bail since a chargesheet had already been filed.
Vijay Sai was arrested by the CBI Jan 2 and he is the number two accused in the chargesheet filed by the investigating agency in March.
The vice-president of Jagati Publications Private limited (JPPl), owned by Jaganmohan Reddy is also an auditor in many other companies of the MP.
The CBI had booked Jaganmohan Reddy and 72 companies and individuals in August last year on the directions of the high court.
According to the investigating agency, Jaganmohan Reddy conspired with his father and then chief minister Y.S. Rajasekhara Reddy to dole out several favours to certain companies in return for the investments they made into his businesses.
Vijay Sai Reddy is the only person arrested in this case.