ED attaches assets of Jagan's firms

Properties said to be worth over Rs 47 crore

ED attaches assets of Jagan's firms

The Enforcement Directorate (ED) on Monday attached properties worth over Rs 47 crore of companies belonging to YSR Congress chief Y S Jagan Mohan Reddy.

The properties pertain to Jagati Publications Ltd, Janani Infrastructure Pvt Ltd and Indira Television Ltd.

“The case was initiated by the Central Bureau of Investigation (CBI) in a charge sheet number 14 filed in September, 2013 against Jagan’s companies for alleged receipt of money from PR Energy Holdings Limited in return of undue benefits granted to Penna Group of Companies,” said a statement issued by ED joint secretary KSVV Prasad.

On September 9, 2014, the CBI had filed the 11th charge sheet against Jagan in quid-pro-quo investments case.

“The investigation under PMLA, 2002, by the Enforcement Directorate, revealed that Carmel Asia Holdings Pvt Ltd had received Rs 23 crore and Jagati Publications Ltd had received Rs 45 crore from PR Energy Holdings Ltd. This amount of Rs 68 crore has been received by YS Jagan Mohan Reddy’s companies, in return of undue benefits granted to Penna group of companies like grant of mining leases and alienation of government land,” the ED order said.

Investigations have revealed that out of this Rs 60 crore, an amount of Rs 47 crore, which constitutes the proceeds of crime, has been invested in Jagati Publications Ltd, Janani Infrastructure Pvt Ltd and Indira Television Ltd.

Accordingly, corresponding properties were identified in the form of fixed assets plant and machinery and land and buildings with these companies and the same were attached.

The charge sheet filed in the special court had names of 14 accused including Jagan, his aide and financial advisor Vijay Sai Reddy and Indu Projects Ltd (Housing). Jagan was arrested by the CBI in 2012 and released on bail last year.

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