HC directs CBI to defreeze Sakshi accounts

In a major setback to the Central Bureau of Investigation, the High Court on Wednesday directed it to defreeze the accounts of Sakshi newspaper and Indira Television on certain conditions.

Delivering interim orders after the completion of arguments and counter-arguments, High Court judge Justice Chandra Kumar struck down the freezing of accounts of Sakshi, owned by YSR Congress president and Kadapa MP Jagan Mohan Reddy, in connection with disproportionate assets case being probed by the Cbi. The court observed that the Sakshi media house could transact all business activities through cheque payment and submit a report on its business activities to the Cbi by 10th of every month.

The revenues from advertisement and newspaper sales could be used for payment of salaries to the employees and to run the business. The court also imposed a ban on sale, transfer, lease and pledging of Sakshi properties.

Allowing the media house to run current account as usual, the court observed that the banks could not refund the fixed deposit amounts without bringing them to its notice. Meanwhile, the court asked the Jagathi Publications, Janani Infra and Indira Television to provide bank guarantee to the amount kept in the current bank accounts.