Hyderabad: The Central Bureau of Investigation (CBI) on Monday, February 23, urged the Telangana High Court not to permit Jagati Publications, which owns Sakshi media, to transfer funds to foreign accounts from its SBI branch at Banjara Hills, Hyderabad, or to open new accounts in other banks as part of its business operations.
The CBI submitted that an interim petition cannot be entertained in a case where the hearing has already concluded, and final orders have been passed. It argued that the interim petition filed by Jagati Publications is not maintainable.
Jagati Publications Limited (Sakshi), in connection with the alleged disproportionate assets cases against former Andhra Pradesh chief minister YS Jagan Mohan Reddy, had filed an interim petition seeking modification and relaxation of earlier court orders relating to the freezing of its bank accounts.
The matter came up for hearing before Justice E Tirumala Devi on Monday.
Petitioner’s arguments
Counsel for the petitioner, G Ashok Reddy, submitted that in the backdrop of the Russia-Ukraine war and restrictions imposed by the United States, funds are being refused transfer to accounts in Dubai for newsprint purchases. This, he argued, is severely affecting business operations.
He requested the court to direct the SBI branch at Banjara Hills to allow fund transfers. Alternatively, he sought permission to open new accounts in HDFC Bank, Axis Bank, ICICI Bank, and Bank of Baroda, which are permitting such fund transfers.
CBI opposes plea
Opposing the plea, CBI Special Public Prosecutor Srinivas Kapatia contended that the petition is not maintainable as it seeks multiple reliefs through a single interim application. He pointed out that although directions are sought against SBI and permission to open accounts in other banks, the banks have not been made respondents in the petition.
He further argued that while the plea claims to seek modification and relaxation of earlier orders, no such specific prayers have been made.
Kapatia informed the court that Jagati Publications’ bank accounts were frozen following a case registered on High Court directions in connection with allegations that during the tenure of former Andhra Pradesh chief minister YS Rajasekhara Reddy, certain companies were granted undue benefits and, in return, invested bribes as equity in companies linked to Jagan Mohan Reddy.
Following the freezing of accounts, Jagati Publications, Janani Infra, and Indira Television had approached the Telangana High Court.
The court permitted the companies to operate 19 collection accounts and five payment accounts across various SBI branches for company management and employee welfare purposes.
However, it barred the opening of any new accounts and clarified that the order would remain in force until completion of the trial before the CBI court.
The CBI counsel submitted that if Jagati had objections to the final order, it should have approached the Supreme Court in appeal. As no appeal was filed, the order has attained finality, he argued.
He further stated that filing a modification petition 4,764 days after the original order in a case where the hearing has already concluded is not permissible.
He also informed the court that in an earlier instance, when a similar interim plea seeking modification was filed, a penalty of Rs 1 lakh had been imposed.
Arguing that any fresh relief must be sought through a new petition and not through an interim application, the CBI requested the court to dismiss the plea.
After hearing arguments from both sides, Justice E. Tirumala Devi reserved orders.
Follow on Twitter | Posted by P N Sree Harsha | 
