SC gives CBI four months to finish Jagan case oprobe

The Supreme Court Thursday gave the Central Bureau of Investigation (CBI) four months to complete the probe in a case of disproportionate assets against YSR Congress party chief Y.S. Jaganmohan Reddy, popularly known as Jagan.

The apex court gave the direction while dismissing the bail petitions of Jagan, industrialist Nimmagadda Prasad and cancelling the bail of Vijay Sai Reddy, an auditor of Jagan's companies.

CBI counsel Ashok Bhan told reporters that if necessary the agency may seek more time to complete the investigations. During the arguments on the bail petition, it submitted to the court that it may take four to six months to complete the probe.

He said three charge sheets were in the pipeline. "The CBI is doing it as expeditiously as possible," he said.

The CBI, which took up the investigations in 2011 on the orders of the Andhra Pradesh High Court, has so far filed five charge sheets and two supplementary charge sheets against Jagan and others, covering various quid-pro-quo deals.

The investigating agency is treating separately the favours doled out by the government of Jagan's late father Y.S. Rajasekhara Reddy to pharma, cement and other companies that made investments in Jagan's business.