A CBI special court on Tuesday remanded V Vijay Sai Reddy, touted as the financial brain behind Kadapa Lok Sabha MP YS Jagan Mohan Reddy’s industrial and media empire, to judicial custody till January 17. He was sent to Chanchalguda jail.
The CBI, which is conducting a probe into the alleged disproportionate assets of Jagan on the directions of the Andhra Pradesh high court, had picked up Vijay Sai Reddy for questioning on Monday.
The vice-chairman of Jagati Publications, the Jagan Mohan Reddy-owned media company that publishes the daily Sakshi and has a television channel of the same name, was arrested after questioning. He is first person to be arrested. The CBI’s FIR has 73 names. The court will hear the CBI’s petition seeking his custody on Wednesday.
The CBI counsel said Vijay Sai Reddy was instrumental in floating dozens of companies and mobilising investments from firms in India and abroad in exchange for favours shown to these organisations by Jagan’s father, late YS Rajasekhara Reddy as CM of Andhra Pradesh.
Meanwhile, Jagan, president of YSR Congress, has decided to go on a tour amid talk that the CBI could arrest him next.