Jagan’s aide Vijay Sai Reddy gets bail

Hyderabad: A special court Tuesday granted conditional bail to V. Vijay Sai Reddy, financial advisor to YSR Congress chief Y.S. Jaganmohan Reddy, and the second accused in investments for benefits case.

The special court granted bail to Sai Reddy on two sureties of Rs.2 lakh each. The judge also directed him not to leave Hyderabad without court’s permission.

Sai Reddy, auditor of the firms of Jagan, as the YSR Congress chief is popularly known, had sought bail on the grounds that the investigation into all aspects of the case was completed and that there has been no instance of his tampering with evidence.

The CBI opposed the bail plea on the ground that he might tamper with evidence.

Sai Reddy, who was arrested in January 2011, was granted bail in April last year. He had surrendered after his bail was cancelled by the Supreme Court in June.

He figures as the second accused in all 10 charge sheets filed by the CBI in the case which relates to the quid pro quo investments in Jagan’s companies when his father, Y.S. Rajasekhara Reddy was Andhra Pradesh chief minister.

Jagan, the main accused in the case, was granted bail by the court on Sep 23.

The court had Monday granted bail to two other accused – industrialist Nimmagadda Prasad and former bureaucrat K. V. Brahmananda Reddy. They were Tuesday released from jail.

Another accused and former state minister Mopidevi Venkatramna is on interim bail till Oct 31.

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