Reddy was released from Cherlapally Jail here at 6 a.m. on the directions of a city court, which granted him bail for 12 hours.
An escort team of the Anti-Corruption Bureau (ACB) took the legislator to his residence in the posh Jubliee Hills and from there to N. Convention Centre in Madhapur, where the ceremony began around 10 a.m.
The ACB personnel kept a close watch on the Telugu Desam Party (TDP) leader in view of the conditions imposed by the court.
The special court for ACB cases on Wednesday while granting bail had directed Reddy not to participate in any political activity and not to speak to media about the case.
TDP leaders both from Telangana and Andhra Pradesh attended the engagement. TDP president and Andhra Pradesh Chief Minister N. Chandrababu Naidu is also likely to attend the ceremony.
Reddy, TDP’s deputy leader in the Telangana assembly, was arrested by the ACB on May 31 while he was offering Rs.50 lakh to nominated MLA Elvis Stephenson to make him vote for the TDP-BJP candidate in the Telangana legislative council elections.
The ACB also arrested two aides of Reddy in a trap laid on a complaint by Stephenson.