Jaganmohan Reddy loses bail application in Supreme Court

Last Updated: Thu, May 09, 2013 12:08 hrs
CBI to file response on Jagan's bail plea

New Delhi: The Supreme Court of India rejected the bail plea of jailed regional leader Jaganmohan Reddy in disproportionate assets case on Thursday.

The Central Bureau of Investigation (CBI), alleged Jagan, lawmaker and the chief of regional party YSR Congress, pressured companies to invest in his vast business empire when his father Yeduguri Sandinti Rajasekhara Reddy was chief minister of southern state of Andhra Pradesh.

The court asked the CBI to file its final chargesheet before September 9 and then Jaganmohan Reddy could appeal for bail.

"Today is 9th May. Before September 9th they (CBI) will have to file their final chargesheet and then Jaganmohan Reddy can appeal for bail. We oblige the Supreme Court order with a lot of agony," said defence counsel Prabhakar in New Delhi.

The CBI counsel Ashok Bhan pointed out that the Supreme Court has come down heavily on the grave the 'white collar offences' committed by Jagan and his friends, to enrich themselves . "Therefore Supreme Court came (down) heavily on such white collar offences," said CBI counsel Ashok Bhan.

In 2011, Jagan declared assets worth rupees 3.6 billion rupees.

Jagan Reddy's father, former Chief Minister, YSR Reddy died in a helicopter crash in September 2009. 

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