HC Denied Bail to Jagan
posted on Jul 4, 2012 @ 11:40AM
The Andhra Pradesh High Court on Wednesday denied bail to jailed Kadapa MP and YSRCP president YS Jagan Mohan Reddy. He is currently lodged in Chanchalguda jail facing charges of disproportionate assets. The court had earlier heard arguements of both, the investigating agency CBI and Jagan's counsels for a couple of days and had reserved its judgement for today.
The CBI argued before the court that the investigation has come to a crucial stage and letting out Jagan Mohan Reddy on bail will hapmer its progress. The Income Tax department has given some crucial information pertaining to the investments in Jagan's companies and there had been flow of huge amounts into his companies from foreign countries. Letters of regoratory have been sent six foreign countries in this connection and replies are being awaited. The CBI also expressed its apprehensions that if Jagan is let off on bail, there is every possibility of him influencing or coercing the witnesses. The court conceded to the agency's pleas and refused bail to Jagan Mohan Reddy.