SC allows CBI`s plea, cancels bail granted to Jagan`s partner

Last Updated: Thursday, May 9, 2013 - 21:11

New Delhi: In a setback to one of the alleged business partners of YSR Congress chief Jaganmohan Reddy, the Supreme Court on Thursday set aside the order of Andhra Pradesh High Court and the trial court grating him bail in connection with the corruption case.
The apex court allowed CBI`s plea seeking cancellation of bail granted to V Vijay Sai Reddy, a founder Director of M/s Jagathi Publications and Financial Advisor for the group of companies of Y S Jaganmohan Reddy, and directed him to surrender before the lower court on or before June 5, 2013.

CBI had approached the apex court against the June last year order passed by Andhra Pradesh High Court dismissing its plea seeking cancellation of bail granted to Reddy who was named as an accused in the FIR lodged on August 17, 2011.

The apex court bench, comprising Justices P Sathasivam and M Y Eqbal, set aside the order passed by the lower court saying the special judge had "committed an error" in grating bail to Reddy while the High Court "erroneously affirmed" the same.

"Taking note of all the aspects discussed above, without
expressing any opinion on the merits, we set aside both the orders of the Special Judge and the High Court granting bail to Reddy and allow the appeal filed by CBI with a direction to complete all the investigation relating to the remaining three charge sheets and file appropriate report before the trial court within a period of four months from today," the bench said.

The bench directed Reddy to surrender before the lower court on or before June 5 after it was told that marriage of Reddy`s daughter was fixed for May 26.

Reddy was arrested on January 2 last year in connection with the case.

He was granted bail by the lower court on April 13 last year after which CBI had approached the High Court which had set aside the trial court`s order and had sent the matter back to the special judge to consider it afresh.

Reddy, however, was again granted bail by the lower court after which CBI had approached the High Court. The High Court had dismissed CBI`s plea seeking cancellation of bail.

CBI has alleged Jaganmohan Reddy had floated M/s Jagathi Publications Pvt Ltd with an objective of conducting media business with the ill-gotten wealth.

It also alleged Jaganmohan Reddy laundered the bribe money by routing it through individuals and companies and getting investments made by them in his companies at a high premium.

During the hearing in the apex court, CBI had argued its probe into the case was still going on and Reddy would hamper the smooth probe and blunt due process of law through his "deceptive and subtle manipulations to influence, intimidate and threaten the witnesses."

The apex court allowed CBI`s plea saying "it is true that the special judge, while granting bail, imposed certain conditions and the High Court has also added some more additional conditions. However, taking note of a few instances in which how the respondent (Reddy) has acted, it cannot be possible for the investigating agency to collect the remaining materials for the remaining three charge sheets to be filed."

"In such circumstances, we are satisfied firstly the special court took irrelevant materials for consideration for grant of bail and secondly, the High Court, having arrived at definite conclusion that several findings of special court are unacceptable or irrelevant, ultimately affirmed the very same order of the special judge granting bail," the bench said.

PTI



First Published: Thursday, May 9, 2013 - 21:11

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