Nimmagadda Prasad granted Interim Bail

Industrialist Nimmagadda Prasad who was in Chanchalguda since a year has been granted an interim bail by the CBI court on Thursday.

The CBI Court has sanctioned a conditional bail to Nimmagadda on humanitarian grounds, as his father-in-law expired. He was ordered not to leave Hyderabad during the 13 days bail period and will be allowed to meet his family members only between 8am to 6pm.

CBI named Nimmagadda as 12th accused in YS Jagan assets case. He was charged with cheating, criminal conspiracy, criminal breach of trust and falsification of accounts. Case has been booked against him under sections 120B, IPC 420, 409 and 477A of PC Act.

The investigation agency has arrested Nimmagadda Prasad in may last year after grilling him for an entire day at Dilkusha Guest House. After 12 months, the Industrialist will be coming out of prison to spend sometime with his family.