Jagan had earlier moved two petitions in the court seeking bail, one as a statutory right under Section 167 (2) CrPC and the other a regular petition under Section 437 of the CrPC.
On November 28, the court had dismissed his statutory bail petition observing that "granting bail at this stage of pending investigation will not only impede the investigation, but also infringe the avowed purpose set out by the Supreme Court in its order."
After this, Jagan moved the Andhra Pradesh high court on November 30 seeking bail and the matter will come up for hearing on December 11.
Opposing the second bail application, CBI deputy legal advisor Balla Ravindranath last week contented that the Supreme Court did not impose any time limit on the central agency to complete the probe and had said that Jagan can approach the trial court for bail only after the CBI completes its investigation in all the seven other cases lodged against him.
The CBI counsel had submitted that the case pertains to economic offence and the investigation might take some more months to complete, after which the agency will file its final chargesheet. He further contended that the probe was at an advanced stage and statements of several witnesses were yet to be recorded and hence bail should not be granted.
However, defence counsel S Niranjan Reddy pointed out that the CBI had committed to the Supreme Court that it would file the charge sheet at the earliest.
Jagan was arrested on May 27 by the CBI on corruption charges and is presently under judicial remand and lodged at the Chanchalguda Central Prison in Hyderabad.
The CBI has accused him of getting huge investments from various individuals and firms into his businesses as quid-pro-quo for the favours granted by the government when his father (late Y S Rajasekhara Reddy) was the Andhra Pradesh CM.