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Enforcement Directorate provisionally attaches properties in Jagan case

Y S Jagan Mohan Reddy

October 4, 2012 - Hyderabad

The Enforcement Directorate on Thursday has provisionally attached properties worth Rs. 51 crore in connection with Money Laundering investigation against Kadapa MP YS Jagan Mohan Reddy and his companies. The movable and immovable properties are attached for the companies who were named in the first and second charge-sheets filed by the Central Bureau of Investigation in the disproportionate assets case against Jagan Mohan Reddy.

The attachment order that was issued under the provision of the Prevention of Money Laundering Act. The following properties are provisionally attached:

  1. 35 acres of land, fixed deposit of Rs. 3 crore belonging to Hetero Drugs
  2. 96 acres of land, fixed deposit of Rs. 3 crore belonging to Aurobindo Pharma
  3. 13 acres of land of Janani Infrastructure belonging to Jagan Mohan Reddy
  4. Fixed deposit of Rs. 14.5 crore of Jagati Publications belonging to Jagan Mohan Reddy

The agency will now file complaint against these companies before PMLA, who will issue notices to the representatives of these companies to explain the source of income. In case, the sources of income is not from legitimate sources, the order of the Enforcement Directorate attaching the properties will be confirmed. The entire process has to be completed within 150 days from the date of the issue of the order.

YSR Congress allege conspiracy

Reacting over the order, the YSR Congress Party honorary president YS Vijayamma said that the ED order is part of a conspiracy by the ruling Congress and opposition Telugu Desam to suppress Jagan Mohan Reddy politically. She said that the CBI could not prove even one charge even though Jagan was behind bars for more than 130 days. She also charged that the investigation agencies are filing charge sheet every time the bail petition comes before the judiciary, which may influence their opinion. Vijayamma also said that the recent ED order has come after a delegation of Telugu Desam Party MPs met Finance Minister P Chidambaram in New Delhi recently.

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