The special court for CBI cases on Monday dismissed the bail plea of industrialist Nimmagadda Prasad, arrested in an alleged disproportionate assets case involving Kadapa MP YS Jagan Mohan Reddy. In his petition, Prasad contented that he did nothing wrong and had not received any illegal benefit in the Vanpic project, adding that the investments made into Jagan Mohan Reddy’s companies were genuine.Prasad said that he has been cooperating with the investigating agency and will continue to do so whenever he is summoned. The CBI contended that Prasad may influence it if he is enlarged on bail.
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