Telangana HC dismisses Nimmagadda’s plea to quash CBI charges

Kapadia urged the high court not to grant relief to Prasad while stating that doing so could disrupt the ongoing trial.
Telanagana High Court
Telanagana High Court File Photo

HYDERABAD : Justice K Lakshman of the Telangana High Court on Monday dismissed the petition filed by industrialist and entrepreneur Nimmagadda Prasad seeking the quashing of charges levelled against him by the Central Bureau of Investigation (CBI) in the YS Jagan Mohan Reddy disproportionate assets case.

During the proceedings, CBI counsel Srinivas Kapadia said the investigative agency had conducted a thorough probe into the allegations against Prasad. It revealed that Prasad’s companies were granted over 15,000 acres of land in Prakasam and Guntur districts by the then Andhra Pradesh government for the Vadarevu and Nizampatnam Industrial Corridor (VANPIC) project. These allocations allegedly violated numerous legal statutes and Prasad’s firms were granted significant concessions, he added.

According to Kapadia, in return for these favours, Prasad invested in various companies linked to the YSRC chief, including Carmel Asia Holdings Pvt Ltd, Bharathi Cements, Jagathi Publications Pvt Ltd, Silicon Builders and Sandur Power Company. Based on the evidence collected, the agency had already filed a chargesheet in the case, which is currently being heard in a CBI court. Kapadia urged the high court not to grant relief to Prasad while stating that doing so could disrupt the ongoing trial.

Responding to these allegations, senior counsel T Niranjan Reddy, representing Nimmagadda Prasad, argued that his client had been implicated under political pressure. He contended that the CBI failed to gather evidence demonstrating any wrongdoing by Prasad, such as bribery of government officials or others.

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