Vijay Sai Reddy released from Chanchalguda Jail

Hyderabad, Oct 9 : Jagati Publications vice chairman V Vijay Sai Reddy was released from the Chanchalguda Central Jail here on Wednesday.

Vijay Sai Reddy, the financial advisor to YSR Congress Party president YS Jagan Mohan Reddy and second accused in Jagan’s quid pro quo investments cases, was granted conditional bail by the Principal Special Court of CBI Cases on Tuesday. He was released from the jail after the completion of bail formatilies.

Vijay Sai, who was arrested by the Central Bureau of Investigation (CBI) on January 2, 2012, was first granted bail by the trial court on April 13, 2012. However, the bail was cancelled by the Supreme Court on May 9 this year. The CBI court here had granted him interim bail on two occasions – on account of his daughter’s marriage and for going on pilgrimage.

Vijay Sai is facing charges of converting black money into white through investments into Jagathi Publications and other companies owned by Jagan Mohan Reddy. INN