Hyderabad, May 28 (IANS): A special court Monday remanded YSR Congress Party leader Y.S. Jaganmohan Reddy to judicial custody for 14 days in a disproportionate assets case.
The CBI court sent the Lok Sabha member to judicial custody till June 11. The court dismissed his bail petition.
The court also dismissed CBI's petition seeking 14-day judicial custody of the accused.
Judge A. Pullaiah, who heard arguments from both sides in the morning, pronounced his order around 4.30 p.m.
Jagan, one of the richest MPs in the country with declared assets of Rs.356 crore last year, will be shifted to the Chanchalguda Central Jail amid tight security.
The agency arrested the 40-year-old Sunday night after three days of questioning.
The son of late chief minister Y.S. Rajasekhara Reddy is accused of corruption, cheating, criminal conspiracy, criminal breach of trust and falsification of accounts.
The CBI alleged that Jagan amassed huge wealth after his father became chief minister in 2004.
He allegedly conspired with his father to dole out favours to companies which made massive investments into his businesses.