11 get bail in Jagan`s illegal assets case

Eleven other people accused of involving in illegal assets case got bail by the special CBI court barring Jaganmohan Reddy and Vijay Sai Reddy.

Hyderabad: Barring YSR Congress Party leader YS Jaganmohan Reddy and his close aide Vijay Sai Reddy, a special CBI court here on Monday granted bail to 11 other people accused of involvement in his illegal assets case.

All the 13 accused, including Jagan, as he is popularly called, who was arrested by the Central Bureau of Investiagtion (CBI) on Sunday night, appeared in the special CBI court in response to its summons over the first charge sheet.

Those who appeared in the court included senior Indian Administrative Service (IAS) officer B.P. Acharya, who is already in jail for his alleged involvement in the Emaar-APIIC township case.

Jagan`s auditor Vijay Sai Reddy was not granted bail.

Those who were given bail included Managing Directors Srinivasa Reddy (Hetero Drugs), Nityananda Reddy (Aurobindo Pharma), Sarat Chandra Reddy (Trident Life Sciences), AP Industrial Infrastructure Corporation`s former Officer Y. Vijayalakshmi, and Aurobindo Pharma`s former Company Secretary Chandramouli.

The court summons on Jagan and 11 others were served May 14. However, the CBI arrested Jagan on Sunday evening after questioning him for three days.

The CBI had filed the first charge sheet on March 30. The second was filed on April 23 and the third on May 7.

The agency booked a case against Jagan and 71 others in August last year on the direction of Andhra Pradesh High Court.

The young leader is accused of conspiring with his father and then Chief Minister YS Rajasekhara Reddy to dole out favours to companies which invested in his businesses in a quid pro quo arrangement.

The CBI also presented before the court leading industrialist Nimmagadda Prasad and bureaucrat K.V. Brahmananda Reddy as their 10-day CBI custody ended on Sunday.

The agency moved a petition seeking their custody for four more days. The court however, sent them back to Chanchalguda Central Jail.

The court had remanded them in judicial custody on May 16 till May 30.