In another set back to Y S R Congress chief, Y S Jagan Mohan Reddy, the Andhra Pradesh High Court on Wednesday rejected his bail plea. Justice Samudra Ala Govindrajulu while hearing the plea filed by Reddy rejected the bail application.
The court while rejecting his bail plea observed that it could not interfere in the matter at the moment. The investigation is still underway and at a very crucial stage and granting bail at this point in time would prove fatal to the case, the judge also observed.
Jagan Reddy Samudra Ala Govindrajuluhad moved the High Court seeking bail after the special CBI court had rejected his bail plea. He is under arrest for various offences of financial crimes and the CBI has been probing this case.
The CBI while objecting to his bail plea said that it would derail the investigation if he is granted bail. There is more to be probed and hence it is essential that he remains in jail. Moreover there is a chance of the evidence being tampered if he is released from the jail the CBI had also submitted to the High Court.
Jagan has two more options now before him- one would be to move the division bench of the Andhra Pradesh High Court and later the Supreme Court of India.
In a major set back to Y S R Congress leader, Jagan Mohan Reddy, the Supreme Court of India rejected a petition filed by him challenging the CBI probe against him. The Bench of the Supreme Court observed that it could not intervene in this case at this point in time.
The Bench further stated that it cannot interfere in this matter at this point in time since it is too premature and moreover the probe and inquiry has already commenced and is on.
Based on several complaints a petition was filed before the Andhra Pradesh High Court seeking a CBI probe into the assets owned by Jagan. The court while allowing the petition order a CBI probe into the assets and also the wealth amassed by Jagan. It was alleged that he had amassed wealth disproportionate to his known source of income.
Based on this order the CBI had conducted a series of raids on all property owned by Jagan in both Andhra Pradesh and Karnataka. Raids were also conducted on the properties owned by Jagan’s aides and family members apart from his investors as well.
Jagan while challenging the order of the High Court had also said in a press conference on August 15 that these raids were stage managed by the Congress. He had questioned why these raids had come about only once he left the Congress.
However today Jagan would have no option but to face the inquiry launched by the CBI. There is no official word from his office on the Supreme Court verdict, but one of the members in his camp said they would adopt a wait and watch policy.
The CBI raids have had quite an impact on the politics of Andhra Pradesh. 29 MLAs came out of the party in support of Jagan. Although it was claimed that these MLAs had quit since they were upset about the defamatory remarks by the Congress against YSR, in inner circles everyone knew that it was a retaliatory measure planned by Jagan.
However for Jagan the problems are only likely to increase in the days to come. The CBI raids and inquiries will continue, but the agency has decided to rope in the Enforcement Directorate too. The ED is expected to look into the role of two Mauritian firms which allegedly routed in illegal money into a power project. The CBI is planning on writing to the ED regarding this issue.