Jagan aide Vijay Sai Reddy gets bail

April 13th, 2012 - 10:38 pm ICT by IANS  

Hyderabad, April 13 (IANS) YSR Congress party leader Y.S. Jaganmohan Reddy’s aide Vijay Sai Reddy was Friday granted bail by a special court in an illegal assets case linked to the MP.

The Central Bureau of Investigation (CBI) had booked Jaganmohan Reddy and 73 companies and individuals in August last year on the directions of the Andhra Pradesh High Court.

After spending over three months in Chanchalguda Central Jail, Vijay Sai came out in the evening after he was granted conditional bail by the CBI special court.

The court directed him to surrender his passport and not to leave Hyderabad without taking its permission.

He was also asked to arrange two sureties of Rs.25,000 each.

Vijay Sai was arrested by the CBI Jan 2 and he is the number two accused in the charge sheet filed by the investigating agency last month. The court had earlier dismissed his bail petitions.

The vice-president of Jagati Publications Private Ltd is also an auditor in many other companies of the MP.

The CBI has filed a plea that the bail order be suspended till April 16. It is likely to come up for hearing Saturday.

The probe agency has already stated that the charge sheet filed March 31 related to irregularities in case of only two companies and that it planned to file a series of charge sheets.

According to the investigating agency, Jaganmohan Reddy conspired with his father and then chief minister Y.S. Rajasekhara Reddy to dole out several favours to companies in return for the investments they made into his businesses.

Vijay Sai Reddy was the only person arrested in this case.

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