After 16 months in jail, Y.S. Jaganmohan Reddy, MP and President of the YSR Congress Party (YSRCP), today got bail in the disproportionate assets case.
The Special CBI Court today granted a bail with several conditions to Jagan, who was arrested by the Central Bureau of Investigation (CBI) on May 27, 2012 in Hyderabad and remanded to custody in the Chanchalguda prison.
According to the conditions, he should not leave Hyderabad, come to court when summoned and furnish a surety of Rs 2 lakh.
The disproportionate assets case, runs into hundreds of crores funnelled by various corporates into Jaganmohan’s firms like Jagruthi Publications, Sandur Power etc. in return to undue favours on land, water etc. from the State Government during the regime of Y.S. Rajasekhara Reddy during 2004-09.
There was jubilation among the supporters and party workers of the YSRCP on the news, while the Telugu Desam Party Chief N. Chandrababu was critical of the development. YSRCP has taken a firm pro-united Andhra stand, following the announcement by the Centre on creating a separate Telangana State.
Jaganmohan, representing Kadapa constituency, is the son of former Andhra Pradesh Chief Minister, Y.S. Rajasekhara Reddy. He has been lucky the seventh time as his bail application got upheld today.
His mother Y.S. Vijayamma and sister, Sharmila have been carrying on the party affairs and reaching out to the people.
State Cabinet Ministers, Geeta Reddy, Sabita Indra Reddy, Dharmana Prasada Rao and Mopidevi Venkatramana, and many high profile corporate executives such as Nimmagadda Prasad, N. Srinivasan, P. Pratap Reddy, and several IAS officers of the State have been named in the 10 chargesheets filed by the CBI, which stated that the investigation was completed.
The case was first filed by the Cong(I) legislator, P. Shankar Rao in 2011. Acting on which the A.P. High Court directed the CBI to investigate the matter.
Somasekhar.m@thehindu.co.in