Vijay Sai Reddy Released From Jail

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 Y S Jaganmohan 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 jail after the completion of the bail formalities.

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 had granted him interim bail on two occasions - on account of his daughter's marriage, and for going on a pilgrimage.

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