The CBI Special Court on Thursday adjourned the hearing to May 14 on the plea of Jagathi Publications, Indira TV and Janani Infrastructure Pvt Limited to issue directions to the CBI to defreeze the bank accounts.
After hearing the arguments from the counsels, the court posted the petition for next hearing on May 14. Challenging the freezing of accounts by the CBI, Jagathi Publication’s counsel argued as to why the CBI has not freezed the accounts 2G Spectrum licensees, which caused Rs 1.75 lakh crore loss to the government’s exchequer. Stating that the CBI has acted unilaterally and intentionally targeting Kadapa MP Jagan Mohan Reddy, the counsel said that the CBI freezed the accounts without showing proper reason.
Stating that no charges are pending against the Indira TV, the counsel appealed to court to issue directions to CBI to defreeze the accounts considering the interests of thousands of employees and their livelihood.
However, the CBI counsel contended that the agency has freezed the accounts as part of the investigation in connection with disproportionate assets case pending against Jagan Mohan Reddy. He said that it has to probe the alleged flow of investments and individuals behind such huge investments in the Jagathi Publications.
After completion arguments and counter arguments, the special court posted the petition for next hearing on May 14.
–Agencies