Vijay Sai gets bail, says he is falsely accused

Apr 14, 2012 |

Hyderabad

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Vijay Sai Reddy

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V. Vijay Sai Reddy, who was granted bail on Friday, argued that during his seven-month tenure as director on the board of Jagati Publications, not a single investment came from outside and there was no truth in the CBI’s contention that he facilitated Mr Jagan Mohan Reddy to reap undue benefits in the form of investments in his firms.

Mr Vijay Sai Reddy said he was falsely implicated in the case just because he was Mr Jagan Mohan Reddy’s financial adviser. Mr Vijay Sai Reddy’s counsel Susheel Kumar said, “CBI made tall claims that it is a `1,246 crore fraud. But as per the chargesheet, `19.5 crore is all they could find.”

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