The court allowed Naidu's plea seeking relief and dismissed the complaint filed by Ramakrishna Reddy on the ground that the latter had no locus standi to file such an application.
The MLA's counsel P Sudhakar Reddy said he had filed a private complaint in an ACB (Anti-Corruption Bureau) court making Naidu an accused in the cash-for-vote issue.
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Naidu had got a temporary relief in the high court, but it was challenged by the MLA in the Supreme Court. The apex court referred the matter to the high court.
The MLA's counsel said they will pursue legal options against Naidu.
The so-called cash-for-vote pertains to allegations against TDP MLA A Revant Reddy and others that they tried to bribe a nominated MLA in MLC polls. Naidu had accused the TRS Government in Telangana of illegally tapping phones.
In May 2015, nominated MLA in Telangana Assembly Elvis Stephenson lodged a complaint alleging that he was offered Rs 5 crore by TDP MLA Revanth Reddy to vote for TDP nominee in the election to the Telangana Legislative Council on June 1.
On May 31, the ACB arrested Revanth Reddy, Bishop Sebastian Harry and Rudra Udaya Simha when they were allegedly handing over an advance sum of Rs 50 lakh to Stephenson.
A charge sheet filed by the ACB on July 28 last year mentioned TDP chief Naidu's name, but not as an accused.
An audio tape of Naidu's purported conversation with Stephenson over the phone on May 30, a day before the ACB arrested Revanth, had found its way to the media.