SC rejects bail plea of Jagan, two aides

No relief for Vijay Sai Reddy, Nimmagadda Prasad

• CBI directed to conclude probe in four months and file charge-sheet
• "Jagan's release will hamper investigation"
• Apex court comes down hard on white collar crimes
• Vijay Sai is key conspirator: CBI

New Delhi: In a huge setback to YSRCP supremo Y S Jaganmohan Reddy, the Supreme Court on Thursday dismissed his bail petition. At the same time, the apex court directed the CBI to conclude its investigations in four months' time and file its charge-sheet.A

It also said after the filing of the charge sheet, Jaganmohan would be at liberty to move the concerned trial court which would consider his bail plea on its own merit, without being influenced by this judgment, according to PTI. He had moved the apex court challenging the Andhra Pradesh High Court's January 24 order refusing to grant him bail. The Supreme Court also rejected the bail petitions of Jagan's auditor Vijay Sai Reddy and industrialist Nimmagadda Prasad and gave the former time to surrender by June 5, in view of the marriage of his daughter on May 26.

As he was considered the brain behind the scam, the court quashed the bail granted by the Special Court. In the case of Nimmagadda Prasad, since his offence is considered to be a serious white collar crime, no bail could be grated. A The Supreme Court Bench, comprising Justice P Sathasivam and Justice Iqbal, said, "His (Jagan) release will hamper the probe in the case, which is of high magnitude... The likelihood of tampering with evidence and influencing witnesses cannot be ruled out on his release." The bail petition of Jaganmohan Reddy was opposed by the CBI, which is investigating the case.

The CBI Counsel said that three more charge-sheets are still in the pipeline. The CBI will try to complete its investigations in four months' time. "However, if the investigations are not completed within the stipulated time, we may seek more time from the Supreme Court," Ashok Bhan said.

Vijay Sai Reddy, he said, was the kingpin and the end-beneficiary; he was instrumental in intimidating people and forcing them to invest in Jaganmohan Reddy's companies. As such, he was the key conspirator. About Nimmagadda Prasad, the Supreme Court said white collar crimes are more heinous than ordinary crimes as they impinge on and destroy the financial health of the country.A The Supreme Court in October last year dismissed Jaganmohan Reddy's bail petition saying he was open to renew his bail before the trial court "on completion of investigation by CBI" on certain aspects.

CBI had then told the court that it would be filing a final charge sheet on Sandur Power, Bharati/Raghuram Cements, Dalmia Cements, India Cements and Kolkata-based suitcase companies allegedly sending money to Reddy's companies including Lepakshi Knowledge Hub Project and Indu Projects. His subsequent pleas were also dismissed by the trial court and the Andhra Pradesh High Court. Jagan was arrested by CBI on May 27 last year and charged with criminal conspiracy to attract investments into his companies on quid pro quo basis. He is at present under judicial custody at the Chanchalguda Central Prison in Hyderabad. CBI has filed several charge sheets against Jaganmohan, an MP from Kadapa, and others. It has accused him and his late father and the then Andhra Pradesh Chief Minister Y S Rajasekhara Reddy of hatching a conspiracy to de-fraud the Government.

Konathala sees Congress-TDPA conspiracy

Hyderabad: YSR Congress Party (YSRCP) on Thursday slammed the CBI for what it called playing to the tunes of the Congress government at the Centre.A

YSRCP leader and former minister Konathala Ramakrishna accused the CBI of not acting independently, but implementing the diktats of the Centre. Addressing the media along with Ambati Rambabu and Somayajulu at the party office, he said that the Supreme Court verdict was a reflection of the conspiracy between the Congress and Telugu Desam Party (TDP). He alleged that the courts were delivering verdicts under the influence of a plot being hatched by the Congress and other parties against the release of Y S Jaganmohan Reddy.

On denial of bail for YSRCP president Jaganmohan Reddy, Ramakrishna said that the court's verdict was unfortunate. The apex court has already passed strictures against the CBI that it was acting like a 'parrot in the cage' with regard to the coalgate scam, he added.

Verdict dashed our hopes: Vijayamma

Hyderabad: Reacting on the Supreme Court's verdict of denying bail for Kadapa MP YS Jaganmohan Reddy for another four months, YSRCP honorary president YS Vijayamma on Thursday said that the verdict was against their expectations. "We are very worried over denial of bail for Jagan and the CBI is just acting like a puppet in the hands of the Congress government," she alleged.

Addressing a press conference at YSRCP headquarters in Lotus Pond along with party leaders Konathala Ramakrishna and Shobha Nagi Reddy, she said that they believed in the judiciary and exuded confidence that justice would prevail and Jagan would come out clean.

"We are ready to fight elections of the local bodies like Panchayat Raj and others, besides taking on the general elections to be held in 2014, efficiently," she remarked. "People must have the courage. We are here to fight for their problems. The Supreme Court itself was finding fault with the CBI by dubbing it as a parrot in the cage. Where does the question of influencing anyone arise when Jagan and YSRCP were fighting against the government," she rebuked.

She alleged that the Congress was known for targeting parties or persons, who spoke against it, through the CBI or other investigating agencies. In Karnataka, the Congress succeeded in splitting the BJP which bite dust in the elections and it was taking TDP's help to suppress YSRCP in the State, she alleged.