HC Relief to Jagan: Sakshi Accounts Not to be Frozen

In a major relief to Kadapa MP and YSRCP president YS Jagan Mohan Reddy, the High Court has ruled that the accounts of Sakshi Media can not be frozen. Jagan Mohan reddy's Sakshi Media owns a TV Channel and Newspaper of the same name in Andhra Pradesh.

However, the court said that Jagan Mohan Reddy cannot sell any assets owned by Sakshi during the investigation that's being conducted by the CBI into his business empire. It also said that all payments for the media empire must be made by cheque.

YS Jagan Mohan Reddy is the son of former chief minister late YS Rajasekhar Reddy and the Central Bureau of Investigation (CBI) is conducting investigation in to his disproportionate assets following HC order since last year. The CBI alleges that while YSR was in office, he influenced entrepreneurs to invest in his son's companies; in return, they were granted licenses and other permissions required for their businesses. Earlier the CBI said that the accounts of his businesses would remain frozen pending the investigation.