Money laundering case: Properties worth over Rs 47 crore of Jaganmohan Reddy attached by ED
The Enforcement Directorate has attached properties worth over Rs 47 crore of YSR Congress chief Jaganmohan Reddy's properties in money laundering case, as per reports on Monday.
Hyderabad: The Enforcement Directorate has attached properties worth over Rs 47 crore of YSR Congress chief Jaganmohan Reddy's properties in money laundering case, as per reports on Monday.
The case had been initiated by CBI in one of the chargesheets filed on September 10, 2013 against YS Jaganmohan Reddy's companies - Jagati Publications and Carmel Asia Holdings Pvt Ltd, alleging receipt of money from M/s PR Energy Holdings Ltd, in return of "undue benefits" granted to M/s Penna Group of Companies.
The investigation under Prevention of Money Laundering Act (PMLA) by the ED (Hyderabad Zonal Office), revealed that M/s Carmel Asia Holding Pvt Ltd had received Rs 23 crore and Jagati Publications had received Rs 45 crore from M/s PR Energy Holdings Ltd. This amount of Rs 68 crore has been received by Y S Jagan Mohan Reddy's companies, in return of undue benefits granted to M/s Penna Group of Companies like grant of mining leases and alienation of government lands etc.
"Investigation conducted so far revealed that out of the Rs 68 crore, an amount of Rs 47 crore, which constitutes the proceeds of crime, has been invested in Jagati Publications, Indira Television and Janani Infrastructure Pvt Ltd," Joint Director of ED, KSVV Prasad, said in a statement here.
"Accordingly, corresponding properties were identified in the form of fixed assets-plant, machinery, land and buildings, with these companies and the same were attached today," the official said.
On September 09, 2014 the Central Bureau of Investigation (CBI) had filed 11th chargesheet against Reddy in 'quid-pro-quo' investments case.
The chargesheet filed in a special court had names of 14 accused including Reddy, his aide and financial advisor Vijay Sai Reddy and Indu Projects Ltd (Housing).
The agency had filed the chargesheet in the court of principal special judge for CBI cases with regard to Indu Projects Ltd (Housing), which allegedly made investments to the tune of Rs.70 crore in Jagan's firms in return for the alleged favours bestowed by the then government of his father YS Rajasekhara Reddy.
The accused had been charged with cheating, criminal conspiracy, forgery and criminal breach of trust.
Jagan was arrested by the CBI in 2012 and released on bail last year.
With Agency inputs