The Andhra Pradesh High Court today dismissed the regular bail petition of YSR Congress chief Y S Jaganmohan Reddy in connection with an alleged disproportionate assets case involving him.
The AP High Court had on December 24 dismissed the statutory bail plea of Jagan.
The CBI had on January 22 alleged before the AP High Court that it was unable to speed up the investigation into Jaganmohan Reddy's case owing to the non-cooperation of the state government.
Jagan's counsel S Niranjan Reddy arguing for the bail had earlier complained that the investigation seemed to be never-ending and in the name of incomplete investigation the bail cannot be denied.
The CBI, however, contended that the bail petition was not maintainable in accordance with the apex court order, which had said that Jagan had the liberty to approach the trial court for bail after the filing of the final charge sheet.
On November 28, a special CBI court had dismissed his statutory bail petition observing that "granting bail at this stage of pending investigation will not only impede the investigation, but also infringe the avowed purpose set out by the Supreme Court in its order".
His second bail plea was also dismissed subsequently on December 4 after which Jagan moved the High Court and filed two bail petitions.
VANPIC project's promoter (industrialist Nimmagadda Prasad) allegedly invested Rs 854 crore in the companies belonging to Jagan towards a largesse for which the then AP government, led by late YS Rajasekhara Reddy, doled out many
favours in the form of awarding the project.
Jagan, who was arrested on May 27 this year by CBI on corruption charges, is presently under judicial remand and lodged at the Chanchalguda Central Prison here.
The central agency had submitted a progress report on the ongoing investigation into the alleged illegal assets of Kadapa MP to the Andhra Pradesh High Court on January 4.
Justice B Seshasayana Reddy dismissed the bail plea on twin grounds, observing that bail petition is not maintainable nor the grant of bail is desirable to the accused who is facing serious charges of financial irregularities.
The Supreme Court had categorically stated that CBI should be enabled to conclude its investigation on seven counts and file a comprehensive charge sheet.
The CBI is not able to complete its investigation on account of variety of constraints including lack of alleged proper cooperation from the state government, the judge said.
Cumulatively, it is not desirable to grant bail to the