New Delhi: A Delhi court on Thursday granted anticipatory bail to accused-turned-approver Raghav Magunta, son of YSR Congress leader Magunta Sreenivasulu Reddy, in a case registered by the Central Bureau of Investigation (CBI) in connection with the alleged irregularities in framing and implementation of the now-scrapped Delhi Excise Policy 2021-22.

Special judge M. K. Nagpal granted him anticipatory bail directing the investigating officer (IO) that in case he is arrested during further investigation he shall be released on personal bond of Rs. 1 lakh with one surety of like amount.

Magunta (43) moved the application on January 29 seeking anticipatory bail under section 438 of the Code of Criminal Procedure (CrPc) pointing out that there is an apprehension that he might get arrested by CBI

He further added that certain incriminating facts have been revealed by him during the recording of his statements and therefore there is an apprehension that he is likely to be arrested by CBI.

He also submitted that he has been cooperating with the investigation and will continue to do so and his arrest is not necessary for the investigation as nothing is to be recovered from his possession.

The court while granting anticipatory bail also took into consideration the reply filed by the CBI where it had been stated that he has cooperated in the investigation and joined it as and when summoned.

“He is also stated to have disclosed some vital facts in his statements recorded under sections 161 and 164(2) CrPC during the course of investigation, which are even relevant for the ongoing further investigation,” the court further observed while granting anticipatory bail.

The court also directed that he shall continue to co-operate in the investigation being conducted by the agency.

Magunta was arrested by the Enforcement Directorate (ED) on February 10, 2023, in the money laundering investigation stemming from the CBI probe.

The agency had named him as an accused in their second chargesheet alleging that he had participated in the generation and transfer of proceeds of crime.

It was further alleged in the chargesheet filed in April, 2023, that he had actively participated in the formation of M/s Indospirit, a company which was to be used as a vehicle for recoupment of kickbacks, participated in the generation, acquisition and use of proceeds of crime of ₹192.8 crores.

It was further alleged that he had also acquired control over various zones and multiple retail licences over and above what was permissible.

He was granted regular bail by the Delhi high court on August 10, 2023, and was granted pardon and made an approver in the ED case on October 3, 2023.