The high court heard the arguments of the defence and prosecution and reserved its judgement on their petitions.
Earlier, the special court for ACB cases had rejected the bail pleas of Reddy and two others.
Subsequently, Reddy, the prime accused in the case, along with two other accused, moved the Hyderabad High Court seeking bail on June 15. Reddy contended before the high court that it is a politically motivated case and he is being falsely implicated.
However, Telangana Advocate General Ramakrishna Reddy, who represented ACB, opposed the bail applications stating that the source of Rs 4.5 crore funds was yet to be ascertained and apprehended tampering of evidence.
More From This Section
"He (Reddy) is an MLA and an influential person, representing from a party (TDP), which is in power in the neighbouring (Andhra Pradesh) state," the AG contended, adding the FSL report pertaining to audio-video recordings in the case was still awaited and many witnesses also needed to be examined.
Subsequentally, ACB had arrested Revanth along with Bishop Harry Sebastian and R Uday Simha on May 31, while they were paying an alleged bribe of Rs 50 lakh to Stephenson.
Revanth Reddy and two other accused are presently under judicial custody till June 29 and lodged in Cherlapally Central Prison here.