Bail granted to industrialist Nimmagadda Prasad

Vastavam web: Industrialist and film producer Nimmagadda Prasad, who was detained by Interpol in Belgrade of Serbia, has been released on the condition that he is not permitted to leave Belgrade as the matter is in court. Nimmagadda is a key accused in the corruption cases being probed against YS Jagan Mohan Reddy in Vadarevu-Nizampatnam Port and Industrial Corridor (Vanpic) project. He has been charged under various codes by UAE Federal Criminal Code under Article 5/5, 44, 225, 227, 228, 230, 399.

Interpol had issued a Red Corner notice on September 5, 2016 in the case following a request from the country Ras Al Khaimah (RAK) who had urged for Nimmagadda’s posession in the above case. After issual of Red Corner notice, Nimmagadda had traveled to Britain, Singapore and other countries but no where he was detained. But when he is in Serbia, Serbia police had detained him on July 27 and took him into their custody. Nimmagadda was produced in the High Court of Belgrade and the court has permitted the detaining of Nimmagadda.