 "Jagan released on bail after 15 months in jail")
The special CBI court ended the 15-month-long jail custody for Kadapa MP and YSR Congress president YS Jagan Mohan Reddy by granting him bail Monday evening triggering instant celebrations by his followers at the court premises as well at several other places in the state.
Acceptance of his request for bail by the court of principal special judge for CBI cases (trail court) comes a week after the Central Bureau of Investigation (CBI) informed the court that the two-year long investigation into the multi-charge sheet quid pro quo investments case against the son of former Congress chief minister YS Rajasekhara Reddy was complete.
Jagan is expected to be released from Chanchalguda jail here tomorrow.
The restoration of personal freedom for Jagan comes six months ahead of the scheduled general elections, underlining the political significance. The court allowed Jagan to travel out of the city only with prior permission, an added relief to the YSR Congress chief to resume political tours, which came to an abrupt end after his arrest, in the districts.
The Supreme Court's directions to expedite the investigation against Jagan in May this year and the CBI's formal intimation to the trial court that it had concluded the investigation as directed by the apex court switched the odds in favour of Jagan on the issue of bail.
In a dramatic move, however, the investigative agency went an extra mile to reiterate its position on the conclusion of the investigation. It filed a special memo filed before the court earlier in the day by clearing the air on the possible loose ends in the case.
The memo said though about eight companies, which include Sandoor Power owned by Jagan, and Bangalore-based Mantri Developers, were mentioned in the FIR and in other instances during the course of investigation, the CBI could not establish the quid pro quo angle.
It also maintained that violations and other irregularities committed by the 16 so-called paper companies from Kolkata that had invested about Rs 200-300 crore in the Jagan companies came under the purview of the Enforcement Directorate and the Income Tax department and, accordingly, all these leftover issues were referred to the department concerned.
Last week, the CBI had opposed bail for Jagan in its counter affidavit and also sought custodial trial for him.
In a voluminous exercise that was unheard of in the history of the state, the CBI had filed 10 charge sheets where Jagan was figured as the accused number one in all the instances besides other high-profile individuals, including ministers, senior IAS officers and businessmen. Each charge sheet dealt with a set of the alleged quid pro quo deals involving the specific companies.
These companies are Hetero and Aurobindo groups, Ramky Pharma City (India) Limited, Vadarevu and Nizampatnam port-cum-industrial corridor (Vanpic) project, Dalmia Cements, India Cements, Penna Cements, Raghuram Cements (Bharthi cements), Indu Techzone and Lepakshi Knowledge Hub.
The case of large-scale irregularities allegedly involved the investments came into the newly-set up firms by Jagan and the alleged government largesse given to these investors and companies. It was filed in August 2011 at the behest of the state high court.
Bail to turn the tide in favour of his party
The YSR family, headed by mother and sister, was able to maintain the political momentum across the state through the turbulent events, including winning majority of Assembly seats in a couple of byelections. Jagan's release on bail is certain to give the added impetus to the party's electoral journey in the days to come, according to observers.
According to some political commentators, the anti-bifurcation agitation built across coastal Andhra and Rayalaseema regions is expected to move into the hands of Jagan as his party has a clear advantage over other parties in this respect.
Acceptance of his request for bail by the court of principal special judge for CBI cases (trail court) comes a week after the Central Bureau of Investigation (CBI) informed the court that the two-year long investigation into the multi-charge sheet quid pro quo investments case against the son of former Congress chief minister YS Rajasekhara Reddy was complete.
Jagan is expected to be released from Chanchalguda jail here tomorrow.
The restoration of personal freedom for Jagan comes six months ahead of the scheduled general elections, underlining the political significance. The court allowed Jagan to travel out of the city only with prior permission, an added relief to the YSR Congress chief to resume political tours, which came to an abrupt end after his arrest, in the districts.
The Supreme Court's directions to expedite the investigation against Jagan in May this year and the CBI's formal intimation to the trial court that it had concluded the investigation as directed by the apex court switched the odds in favour of Jagan on the issue of bail.
In a dramatic move, however, the investigative agency went an extra mile to reiterate its position on the conclusion of the investigation. It filed a special memo filed before the court earlier in the day by clearing the air on the possible loose ends in the case.
The memo said though about eight companies, which include Sandoor Power owned by Jagan, and Bangalore-based Mantri Developers, were mentioned in the FIR and in other instances during the course of investigation, the CBI could not establish the quid pro quo angle.
It also maintained that violations and other irregularities committed by the 16 so-called paper companies from Kolkata that had invested about Rs 200-300 crore in the Jagan companies came under the purview of the Enforcement Directorate and the Income Tax department and, accordingly, all these leftover issues were referred to the department concerned.
Last week, the CBI had opposed bail for Jagan in its counter affidavit and also sought custodial trial for him.
In a voluminous exercise that was unheard of in the history of the state, the CBI had filed 10 charge sheets where Jagan was figured as the accused number one in all the instances besides other high-profile individuals, including ministers, senior IAS officers and businessmen. Each charge sheet dealt with a set of the alleged quid pro quo deals involving the specific companies.
These companies are Hetero and Aurobindo groups, Ramky Pharma City (India) Limited, Vadarevu and Nizampatnam port-cum-industrial corridor (Vanpic) project, Dalmia Cements, India Cements, Penna Cements, Raghuram Cements (Bharthi cements), Indu Techzone and Lepakshi Knowledge Hub.
The case of large-scale irregularities allegedly involved the investments came into the newly-set up firms by Jagan and the alleged government largesse given to these investors and companies. It was filed in August 2011 at the behest of the state high court.
Bail to turn the tide in favour of his party
The YSR family, headed by mother and sister, was able to maintain the political momentum across the state through the turbulent events, including winning majority of Assembly seats in a couple of byelections. Jagan's release on bail is certain to give the added impetus to the party's electoral journey in the days to come, according to observers.
According to some political commentators, the anti-bifurcation agitation built across coastal Andhra and Rayalaseema regions is expected to move into the hands of Jagan as his party has a clear advantage over other parties in this respect.