New Delhi: The Supreme Court Monday reserved its order on the bail plea of YSR Congress party leader YS Jaganomhan Reddy in a case of allegedly possessing illegal assets.

An apex court bench headed by Justice P Sathasivam reserved the order after hearing the arguments of both the Kadapa MP`s lawyer and the Central Bureau of Investigation (CBI).

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The investigating agency opposed the plea of Jagan, as the MP is popularly known, saying releasing him on bail at this stage would affect the investigations as he may influence the witnesses. The CBI also informed the court that they required four-to-six months to complete the investigation.

Jagan, son of late Andhra Pradesh chief minister YS Rajasekhara Reddy, would complete one year in judicial custody May 27.

The CBI told the court that the investigation into `paper companies` in Mumbai, Kolkata and other places was continuing. It also said the crime involving dealings of thousands of crores of rupees extended to seven countries.

The federal agency clarified that its investigation had nothing to do with politics. Arguing on behalf of Jagan, senior counsel Harish Salve accused the CBI of saying one thing in the high court and another in Supreme Court. He said the CBI was misleading the court and wondered how long his client would be kept in jail.

The apex court in October last year dismissed Jagan`s bail petition. His subsequent pleas were also dismissed by the trial court and the Andhra Pradesh high court.

Jagan was arrested by the CBI May 27 last year and charged with criminal conspiracy to attract investments into his companies on quid pro quo basis.

The probe agency said companies and individuals who made investments in Jagan`s companies were favoured by the government of Rajasekhara Reddy (2004-09).

Former state minister Mopidevi Venkatramna and industrialist Nimmagadda Prasad were among those arrested by the CBI.

Two ministers, including Home Minister Sabita Indra Reddy, were named as accused in the CBI chargesheets.
IANS