In a major setback for YS Jagan Mohan Reddy, the Supreme Court on Friday refused to say an investigation by the Central Bureau of Investigation (CBI) into his assets. The two-judge bench of justices Dalveer Bhandari and Deepak Verma dismissed the Andhra MP's plea against the High Court's order.

The Andhra Pradesh High Court has directed the CBI to conduct a preliminary inquiry into allegations against Reddy's wealth and submit a report to it. Jagan, son of late chief minister YS Rajasekhar Reddy, had approached the apex court challenging Andhra Pradesh High Court. Meanwhile, the CBI is continuing with its preliminary probe. It has served notices to 19 companies which have invested in Jagan's Jagathi Publications and Bharathi Cements companies. So far 15 companies have responded and submitted documents pertaining to their investments in Jagan's companies. The documents are being examined by CBI.