HYDERABAD: V Vijay Sai Reddy, accused in the YS Jaganmohan Reedy’s assets case, had forced a director of a company to invest in Jagati Publications Limited for trouble-free establishment and running of the factory in the state, the CBI has said.In a counter petition filed in the special CBI court here on Tuesday opposing the bail application of Vijay Sai Reddy, the CBI said Vijay Sai Reddy, in pursuance of the criminal conspiracy with YS Jaganmohan Reddy to route the ill-gotten money, urged certain suitcase companies such as Artillgence Bio-Innovations Limited, Bay Inland Finance Private Limited, Bhaskar Fund Management Private Limited and some individuals, to route the illgotten money as investments into Jagati Publications.“Accordingly, the suitcase companies and individuals submitted their applications for allotment of shares at a premium of Rs 350 in July 2007. Though the shares were for the first time fixed at a premium of Rs 350 at the board meeting held on September 15, 2007, which means that the investing companies had known about the so-called share value much earlier than when the premium was fixed by the board. Vijay Sai Reddy, in pursuance of the criminal conspiracy, strongly influenced the representatives of both companies to pre-date the report to make good ill-gotten money which had already started pouring in through the suitcase companies,’’ the CBI said.The CBI said that it came to light during the investigation that Vijay Sai Reddy had exclusive knowledge of the persons involved in the scam and the modus operandi of the illegal transactions done by the other accused persons which he has not revealed despite questioning him several times during police custody.Reddy was making inducement, threat and promise to the persons acquainted with the facts of the case and was dissuading them from disclosing the facts and causing the disappearance of the evidence and tampering with the evidence, it said.Magistrate B Naga Maruthi Sharma posted the arguments on the petition to February 9 and extended Reddy’s judicial remand till February 14.Gali’s Plea for Bail Rejected for 4th TimeHYDERABAD: The special CBI court on Tuesday dismissed the bail petitions of Gali Janardhan Reddy and his brother-in-law B V Srinivas Reddy, accused in the Obulapuram mining case.It was the fourth time the court dismissed their bail pleas.Former Karnataka minister and mining baron Gali Janardhan Reddy and his brother in law have been lodged in the Chanchalguda central prison here. With the investigating agency submitting its chargesheet, they moved the bail application.The CBI opposed their petition saying that they would influence witnesses and tamper with evidence if released on bail.
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