Hyderabad/New Delhi, Jan 8 (PTI): The Enforcement Directorate has attached assets worth Rs 143.74 crore in connection with its probe in the money laundering case against YSR Congress party chief Jagan Mohan Reddy.
The attachment order, under criminal provisions of the Prevention of Money Laundering Act (PMLA), is the third by the agency after it issued two separate attachment orders of Rs 51 crore and Rs 71 crore earlier, in this case.
The agency, according to sources, has few more similar orders in the pipeline as it plans to build a water tight case against Jagan and his associates. "Immovable properties and movable assets worth Rs 143.74 crore under section 5(1) of PMLA are being attached. The properties attached are from Ms Ramky Pharma City (India) Limited are approximately 135.46 acres of land and deposit of Rs 3.20 crore in mutual funds and fixed deposits for Rs 10 Crore from Jagati Publications Private Limited (held by Jagan Reddy)," the attachment order said.
The agency is probing the case on the basis of the FIR filed by CBI to investigate alleged disproportionate assets amassed by Jagan especially during the tenure of his father-- the late Andhra Pradesh Chief Minister Y S Rajasekhara Reddy
An ED attachment is an enforcement action under anti-money laundering laws to restrict the accused from taking benefit out of the properties or assets they have created through illegal means.
The accused parties can appeal against the order at the Adjudicating Authority of the PMLA based here.
Comment on this article
KRPrabhu, Kudla/Bangalore
Tue, Jan 08 2013I feel pity for Jagan.This young man should not have taken Congress for ride.One should not swim against the current.Had he been not so he would not have seen these days now facing and got 'clean chit'.
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Suraj D'Souza, Mangalore/UAE
Tue, Jan 08 2013This news is quite common for citizens of India since last 5 yrs.
We definitely need a change in politics(governance) like the philosophy of AAP
This time we the educated INDIANS should show our positive attitude by choosing ritht persons in right place instead passing the comments.
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My View , managlore
Tue, Jan 08 2013This money was his father money, that man made a lottt of money and kept it for his son, as long as yoou stay with Sonia n co, you are safe.
Or else just check this person.
So why to blame this man, his father made all these money when he was in power as CM , and mainly a congs person.
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Naveen D'souza, Valencia-Kuwait
Tue, Jan 08 2013IN HIS AGE, HE IS THE RICHEST PERSON IN INDIA. STILL HE IS A INNOCENT? BETTER TO JOIN CONGRESS THEY WILL TAKECARE HIM.
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vivek baliga, Bangalore/Chandigarh
Tue, Jan 08 2013this is related to assets..... where is the hard cash???? how many crores......
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