Nimmagadda’s Bail Plea Hearing Adjourned to Oct 3
Hyderabad, Sept 26 (INN): The CBI Court on Thursday adjourned the hearing on the bail petitions of noted industrialist Nimmagadda Prasad and suspended senior bureaucrat KV Brahmananda Reddy to October.
Both Nimmagadda and Brahmananda Reddy are accused in the VANPIC aspect of the quid pro quo case of YSR Congress party president YS Jagan Mohan Reddy. The CBI directed the CBI to file its counter before taking up the matter again for hearing on October 3.
Nimmagadda Prasad has been claiming that there was no nexus between his investments in Jagan companies and the benefits and concessions received by him or his companies as quid pro quo arrangement as being charged by the CBI. However, the CBI has been contending that Nimmagadda and former minister Mopidevi Venkata Ramana acquired 28,000 acres for the VANPIC project while giving impression to the State Government that only 4,000 acres were acquired. Nimmagadda has been accused of selling away the land to realtors for Rs 12.5 lakh against the acquired price of land between Rs 70,000 to Rs 1.5 lakh per acre. (INN)