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Sep 23, 2013 at 10:15pm IST

YSR Congress chief Jagan gets bail in the illegal assets case after 16 months

Hyderabad: The YSR Congress Party chief YS Jaganmohan Reddy finally gets bail after spending 16 months at Chanchalguda jail in Hyderabad. A CBI special court in Hyderabad has granted him a conditional bail after the CBI informed the court that it has completed investigation in all the cases against him. The CBI has filed 10 chargesheets against him in the disproportionate assets case.

The son of the late AP CM YS Rajashekara Reddy was arrested in the last week of May 2012 in connection with disproportionate assets he allegedly amassed during the tenure of his father as the CM.

Jagan's bail was rejected at least 6 times, before this. In May 2012, the Supreme Court had ordered the CBI to complete investigations by September. The CBI on Monday filed a memo before the court saying that the investigation is over against him.

Reacting to Jagan's bail his wife Bharathi Reddy expressed happiness. She told CNN-IBN that their children were eagerly waiting for him at home.

Senior leader of the YSRCP Dr MV Mysura Reddy felt that his release from the jail would strengthen his party's position in the upcoming Assembly and Lok Sabha polls.

During Jagan's long stay in the jail, his sister Sharmila and mother YS Vijayamma were running the party. His wife Bharathi Reddy has been managing his business empire including the Sakshi group of media houses.

Jagan Reddy left the Congress in the late 2010 to form the YSRCP. The AP High Court ordered a CBI probe into his assets in July 2011, which was later upheld by the Supreme Court.

Along with Jagan, four AP Congress ministers have also been chargesheeted. One of them M Venkataramana is also in the jail with him. Noted industrialist Nimmagadda Prasad, Jagan's company auditor V Vijayasai Reddy, IAS officer Brahmananda Reddy are also with him in the jail. They are also now expected to get bail.

Since the Assembly and Lok Sabha polls are just 6-7 months away, Jagan's release from the jail assumes a lot of significance. His party is hoping that he will take on both the Congress and the TDP. He is also expected to cash in on the sympathy wave.

Since it is a conditional bail, he may not be allowed to tour the entire state to continue his yatra. According to political analyst K Nageshwar, Jagan will emerge as the saviour of AP openly opposing the creation of Telangana.

Jagan's YSRCP is hoping to win most of the Lok Sabha seats in the Seemandhra region in the upcoming Assembly and Lok Sabha polls. Congress MP from Nizamabad in Telangana Madhu Yakshi Goud said that the CBI could appeal against the bail in the High Court. Jagan's family and supporters are holding Sonia Gandhi responsible for his plight.