The CBI stand that it would not arrest investors who have been named accused in the assets case against Jaganmohan Reddy is significant. This assurance is a great relief to the investors in Jagan’s case, who have been fearing arrest by CBI anytime.
The CBI stand was stated by its counsel P Kesava Rao when Justice K C Bhanu took up for hearing the petition of the investigating agency seeking cancellation of the bail given to V Vijay Sai Reddy by the trial court.
Justice Bhanu posed the question as to why has the CBI left the others and concentrated only on Vijay Sai Reddy in the case to which the CBI counsel said that the probe agency has filed its first chargesheet in respect to only those aspects where it had concluded its investigation. The CBI counsel said in the first chargesheet, there are 13 accused including five companies and three investors, namely Srinivas Reddy, Nityanand Reddy and Sarat Chandra Reddy of Arabindo Pharma , Hetero Drugs and Trident Technologies Ltd respectively. “Since we have decided not to arrest the investors named in the case, none of them will be arrested,” Kesava Rao said.
The latest approach by CBI is being interpreted in different ways by observers. CBI wants to get the co-operation by the investors in the case against Jagan. The other view point is that the CBI is slowly allowing the case against Jagan to be diluted.
“If neither the investors nor the beneficiary are to be arrested, who will be penalized in this case,” said an observer.