After hearing the arguments from the lawyers of the petitioner and the Central Bureau of Investigation (CBI), the court reserved its orders till Thursday.
The Kadapa MP's lawyer Niranjan Reddy argued that he is entitled to bail as the CBI failed to complete the investigations and file the charge sheet in all aspects despite the directions of the Supreme Court.
He disputed the CBI's contention that Jaganmohan Reddy was arrested only in Vanpic deal and not in other aspects of the case, in which the charge sheets have not been filed.
Jagan's counsel contended that a person cannot be kept in jail beyond 90 days without filing the charge sheet. He pointed out that the CBI had told the Supreme Court in October last year that the investigations in all seven aspects would be completed as early as possible but the probe seemed to be never-ending.
Additional Solicitor General Ashok Bhan told the court that the CBI needs time to complete the investigations. The CBI also complained that the government is not cooperating in the probe.
The high court on December 24 dismissed the statutory bail petition of Jagan. Earlier, the CBI court had dismissed both the statutory and regular bail petitions.
Jagan, who was arrested on May 27 by the CBI, is at present lodged at the Chanchalguda Central Prison in Hyderabad.
Dismissing Jagan's bail plea in October, the Supreme Court had observed that petitioner was open to renew his bail before the trial court on completion of the investigation by the CBI in the seven aspects. The central agency has so far filed four charge-sheets against Jagan and others in as many cases.
The CBI has accused Jagan and his late father and then Andhra Pradesh chief minister Y. S. Rajasekhara Reddy of hatching a conspiracy to defraud the government. It accused Jagan of influencing his father in doling out certain favours to individuals and companies who made investments in his business on a quid-pro-quo basis.