Nimmagadda's bail plea adjourned to Oct 3

The CBI Court, on Thursday, adjourned the hearing on the bail petitions of industrialist Nimmagadda Prasad, and suspended senior bureaucrat K V Brahmananda Reddy, both accused in the VANPIC aspect of YSR Congress party president Y S Jaganmohan Reddy's Disproportionate Assets case, to October 3.

The CBI filed its counter petition 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's 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)