CBI court has on Monday rejected the bail petition of industrialist Nimmagadda Prasad who was arrested in connection with the disproportionate assets case against Y S Jaganmohan Reddy. CBI has opposed his bail plea stating that it would not be proper to give him bail now, as the investigation into the Vanpic case was at a crucial stage.
It may be recalled that Nimmagadda, known as Matrix Prasad was arrested in May.
Prasad’s counsel has prayed that he may be granted bail as he was cooperating with the investigation. On hearing both sides, Judge of the special court has concurred with the argument of the CBI and rejected the bail plea.