DA case: Jaganmohan Reddy granted bail, to walk out of jail after 16 months

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The conditional bail, however, restrains Y S Jaganmohan Reddy from leaving Hyderabad without the court's permission. Reuters The conditional bail, however, restrains Y S Jaganmohan Reddy from leaving Hyderabad without the court's permission. Reuters
SummaryFrom India Cements' Srinivasan to Aurobindo's Reddy, CBI named many industrialists in case.

lead the stir as a leader of a political party.

In the 10 charge sheets filed by it so far, CBI named as accused several industrialists including BCCI chief and India Cements Ltd Vice Chairman and Managing Director N Srinivasan, Vice President of Dalmia Cements Punit Dalmia, Aurobindo Pharma Ltd Vice Chairman Nityananda Reddy, Ramky Infrastructure Ltd Chairman A Dasaradharami Reddy and Nimmagadda Prasad.

The investigating agency also named former ministers M Venkata Ramana Rao, Sabitha Indra Reddy and D Prasada Rao, besides a current minister J Geetha Reddy in the various charge sheets.

Nimmagadda, an industrialist, who had been arrested, is still in Chanchalguda prison and Venkata Ramana Rao is currently out on interim bail on health grounds.

Jaganmohan had moved the court for bail on September 11 on the ground that the four-month deadline set by the Supreme Court for completion of investigation by the CBI had ended on September 9.

The Supreme Court had on October 5, 2012 and on May 9 this year rejected the bail petitions of Jaganmohan, who has been lodged in the Chanchalguda Central Prison here since his arrest on May 27, 2012.

In May this year, the apex court had directed CBI to complete its investigation and file the charge sheet(s) within four months.

Thereafter, the appellant could move the trial court, which would be "free to consider the prayer for bail independently on its merits without being influenced by dismissal of the present appeal," the Supreme Court had said.

CBI Counsel Surender said the agency will examine the court order and take a decision in a day or two on whether to challenge it in the High Court.

Ashok Reddy, Jagan's counsel, said his client is expected to be released from prison tomorrow after completing formalities.

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