The Enforcement Directorate (ED) has provisionally attached assets worth over Rs 7.85 crore in connection with a money laundering case against YSR Congress chief Jaganmohan Reddy and others.
According to the ED order released to press, Penna Cement and Pioneer Holiday Resorts allegedly received undue favours from the government of Andhra Pradesh in the form of alienation of government land, grant of prospecting license for limestone, grant of first renewal of mining lease for limestone, permission for hotel construction and relaxation of rules for construction of a luxury hotel, among others, as against quid pro quo investments in the group companies of Jagan.
The attached immovable assets include various pieces of land amounting to 235 acres of land in Anantapur district of Andhra Pradesh and part of a hotel building in Banjara hills area here.
ED initiated the fresh step based on the charge sheet filed by the CBI alleging that Penna Cements MD P Pratap Reddy paid bribes to Y S Jaganmohan Reddy as quid pro quo for the undue favours received by his companies namely Penna Cement industries Ltd and Pioneer Holiday resorts limited. The ED regional office here has registered a money laundering case against Y S Jaganmohan Reddy under Prevention of Money Laundering Act (PMLA).
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