A special CBI court here today granted conditional bail to industrialist Nimmagadda Prasad and suspended senior bureaucrat K V Brahmananda Reddy, both accused in the alleged quid-pro-quo investments case involving YSR Congress chief YS Jaganmohan Reddy's firms.
The court in its bail orders said that they should submit a personal bond of Rs 2 lakh each and two sureties of the like sum towards the execution of bail and with a direction that they should not leave Hyderabad among other conditions. The duo, currently lodged in Chanchalguda jail, had on September 24 moved separate bail petitions through their counsel in the court on the grounds that CBI's investigation in the case was over.
Jagan, the prime accused in the case was released on bail on September 24. The petitioners contended that there is no instance they tampered with evidence or influenced witnesses before or after their arrests. Nimmagadda Prasad and Brahmananda Reddy were earlier arrested by CBI on May 15 last year in the Vadarevu Nizampatnam Ports and Industrial Corridor (VANPIC) aspects of alleged quid pro quo deals in connection with the case. They were charged of quid-pro-quo investments and the role in allotment of land to VANPIC project illegally.