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Vijay Sai Reddy Gets Bail

Vijay Sai Reddy Gets Bail

posted on Apr 14, 2012 @ 10:38AM

Nearly 100 days after the arrest, V Vijay Sai Reddy was finally released on bail on Friday evening. CBI special court at Nampally granted conditional bail to Sai Reddy, stating that he should not leave Hyderabad and surrender his passport to the court. He had to submit two personal sureties worth Rs 25,000 each.

 

Sai Reddy, the No. 2 accused in the alleged disproportionate case of Jaganmohan Reddy, was arrested by the Central Bureau of Investigation on January 2.

The CBI charged Sai Reddy to be the kingpin in the entire case and the the brain behind the formation of several “shell” companies through which money was allegedly routed into Jagathi publications as investments. He was associated with the family of late Y S Rajasekhara Reddy for the last three decades as his personal auditor and was even rewarded with the post of Tirumala Tirupati Devasthanams (TTD) trust board member during the YSR regime.

The CBI authorities strongly opposed the bail to Vijay Sai Reddy stating that he would manipulate the evidences and threaten the witnesses. It submitted a memo in the court stating seeking that the bail be stalled till Monday.

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