Hyderabad; A CBI special court here on Tuesday extended till Jan 31 the judicial custody of Vijay Sai Reddy, an aide involved in YSR Congress Party leader Y.S. Jaganmohan Reddy's alleged illegal assets case. As his judicial remand ended on Tuesday, the Central Bureau of Investigation (CBI) presented him before the court, which extended his judicial remand by two weeks.
Vijay Sai Reddy was arrested by the CBI on Jan 2. He is the vice-president of Jagati Publications Pvt. Ltd. (JPPL), owned by Jagan, as the YSR Congress Party chief is popularly called. The investigating agency also questioned him for eight days with regard to the investments made by various firms into JPPL and other companies owned by Jagan.
The CBI believed that Vijay Sai Reddy, as auditor of Jagan's companies, played a key role in mobilising investments both within the country and from abroad. He is the second accused in the case and the first to be arrested.
The CBI registered the case in August last year following a direction by the high court on the petitions of a state minister and some leaders of the opposition Telugu Desam Party (TDP).
The CBI booked Jagan for allegedly conspiring with his father and then chief minister Y.S. Rajasekhara Reddy to roll out public assets in the form of mining licenses, special economic zones, ports and real estate permissions to unscrupulous investors who pumped in money into his companies on a quid-pro-quo basis.
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