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SC denies bail to Jagan Mohan Reddy

Last Updated: Friday, October 5, 2012 - 13:14

Zeenews Bureau

New Delhi: The Supreme Court on Friday rejected the bail plea of YSR Congress chief YS Jagan Mohan Reddy, who is under arrest since May 27 in connection with a disproportionate assets case.

The 40-year-old son of former Andhra Pradesh chief minister YS Rajashekhara Reddy had approached the apex court after the Andhra Pradesh High Court denied him the relief.

Reddy is at present lodged in the Chenchalguda central prison in the state capital under the judicial custody of Central Bureau of Investigation (CBI), which is conducting an investigation into him and others in an alleged corruption and cheating case during the reign of his father.

Yesterday, the Enforcement Directorate (ED) had issued attachment orders on properties worth Rs.51 crore in its money laundering probe against Jagan Mohan Reddy and his associates.

The ED began its probe against the politician and his associates on the basis of a CBI first information report that stated that since “May 2004, Jagan floated number of companies wherein quid pro quo investments have been made by the beneficiaries from the decisions of the state government in various forms like SEZs (special economic zones), irrigation contracts, relaxation/permission for real estate ventures, mines among others”.

The CBI has already filed a chargesheet in this case in a special court in Hyderabad.

First Published: Friday, October 5, 2012 - 13:14

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