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Justice S Bhaskaran adjourned hearing on Reddy's plea to July 17 on his counsel submission that he faced threat to his life.
Arrested by the Enforcement Directorate following seizure of Rs 34 crores in new Rs 2,000 denomination notes by CBI from him during the demonetisation exercise in December last year, Reddy and his two associates K Srinivasulu and Prem Kumar were granted bail by Justice Bhaskaran on May 12.
Reddy, in his plea to the high court here, has sought relaxation of his bail condition saying he be allowed to stay in Chennai and report to the ED office here only.
The Enforcement Directorate sleuths had Reddy and his associates K Srinivasulu and Prem Kumar after seizure of Rs 34 crores in new Rs 2,000 denomination notes from them and had filed a case under the provisions of the Prevention of Money Laundering Act (PMLA).
The judge later had relaxed the bail condition of Reddy's two associates and allowed them to sign before the ED authorities here.
Following this, Reddy too has filed a petition seeking the relief.
During the hearing today, counsel for the ED favoured an order allowing Reddy to appear in the agency's office here.
He submitted that the investigation of the case had to be continued in Chennai and hence no purpose will be served if the petitioner was forced to stay in New Delhi.
He said the state police has to give protection to the accused.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)