Kattas in trouble; ED attaches their property

Former industries minister Katta Subramanya Naidu is facing more trouble as the Enforcement Directorate has filed a case under the Prevention of Money Laundering Act, 2002, against him after attachment of his property.

In his submission to the Lokayukta Court on Saturday, Katta’s counsel C H Jadhav said the Enforcement Directorate had attached the property of Naidu, his son Katta Jagadish, Itasca Software MD S V Srinivas and Corporator Gopi and a case had been filed in the court of the Special District and Sessions Judge Arun Chowdapurkar.

All the property including the residences and bank accounts were attached two months ago as a precautionary measure. Notices have also been issued to the four and objections will be filed before the Special Court on November 30.

With the attachment, the four will be unable to either operate their accounts or alienate any of the property. While only the properties that were acquired for the duration and after the offences were committed are attached, the counsel for Katta said that properties that were purchased by Katta in 1973 were also attached and this will be challenged before the Special District and Sessions Court.

The Act allows the attachment procured by means of an offence as a precautionary measure even before the judgement.

Katta Subramanya and his son are facing charges in the Special Lokayukta Court, of accepting a bribe of Rs 87 crore to allot 325 acres of land to Itasca Software Development Company.

The Lokayukta police who filed a charge sheet on July 8, 2011 had also detected largescale irregularities during the time the KIADB was asked to acquire land for Itasca. Katta and his son are charged with being paid through Indu Developers, a proxy company of the Katta family.

DH Newsletter Privacy Policy Get top news in your inbox daily
Comments (+)