This Article is From May 09, 2013

Jagan Mohan Reddy's bail plea rejected by Supreme Court

Hyderabad: Politician Jagan Mohan Reddy's bail plea has been rejected by the Supreme Court and he is likely to stay behind bars for at least four more months.

The YSR Congress chief was arrested by the CBI in connection with a disproportionate assets case and has already spent almost a year in Hyderabad's Chanchalguda jail.

Arguing for his bail, Jagan's lawyers told the court that the case against him was a "punishment" for his decision to quit the Congress in 2011 to launch his own political party, the YSR Congress.

They also argued that he deserved bail because he has already spent nearly 12 months behind bars. But the CBI told the court that it needed more time to investigate the corruption allegations against him.

While rejecting Jagan's petition today, the court said granting him bail could hamper the investigation but gave a four-month deadline to the CBI to complete its probe. The court said Jagan could apply for bail before a trial court after the completion of the investigation. CBI's counsel however said the investigating agency could seek more time from the court.

Today, the court also rejected the bail plea of Jagan aide Nimmagadda Reddy and cancelled the bail granted by the High Court to one of his associates, Vijai Sai Reddy.

The CBI alleges that when Jagan's father YSR Reddy was chief minister of Andhra Pradesh, he pressured companies to invest in his son's vast business empire. In return, the investigation agency says, YSR allegedly gave them licenses and clearances necessary for their own companies.

In 2011, Jagan declared assets worth Rs. 365 crore.

Jagan's father YSR Reddy died in a helicopter crash in September 2009.

.