HC lifts freeze on bank accounts of Jagan's firms



HC lifts freeze on bank accounts of Jagan`s firms Hyderabad: In a relief to Kadapa MP YS Jaganmohan Reddy, the Andhra Pradesh High Court on Wednesday relaxed CBI’s earlier order freezing the bank accounts of three firms owned by him.

The court directed the Sakshi Media group to conduct all transactions, including payment of employee salaries, through bank cheques and not to touch fixed deposits.

The HC also directed the media group to submit details of transaction to CBI before 10th of every month and no property should be sold until the case is disposed off.

On May 8, CBI, which is investigating the source of funds and other aspects of Jagan's business empire, had written to different banks ordering the freezing of all accounts in the name of Jagathi Publications, which runs Sakshi newspaper, Indira TV, which operates Sakshi TV, and Janani Infra.

According to CBI, the investigating agency had frozen 11 current accounts in different banks in the city with Rs 11 crore in balance, besides Rs 103 crore of fixed deposits.

As per court orders, Sakhsi media will have to furnish bank guarantee to the tune of Rs 11 crore. Recently, the same court had issued interim stay on the government order stopping all government advertisements to Sakshi newspaper and TV channel, terming it as contrary to the guidelines set by the government itself.

Meanwhile, in an another development, the High Court today dismissed a petition filed by Jagan Reddy seeking exemption from appearing before CBI on Friday.

The probe agency had issued summons to the Kadapa MP to appear before it for questioning. Jagan requested the court to exempt him from appearing before CBI till June 15 because as a key person for his party, he would be busy with by-election campaigning.

The court observed that CBI should proceed according to Section 41 (A) of CrPC which says a police officer can summon or arrest anyone without prior permission from court.

PTI