Enforcement Directorate attaches assets in Jagan Reddy DA case

Wednesday, January 3, 2018

The Enforcement Directorate has attached assets worth Rs.117.74 crore in a money laundering probe against YSRCP president Jagan Reddy.

The attached properties belong to the companies of I.Syam Prasad Reddy, including the assets of Indu Project, Embassy Property Developments and Vasantha Projects in the Indu-Andhra Pradesh Housing Board. The case pertains to alleged quid pro quo where Shyam Prasad Reddy made huge investments in the companies floated by Jagan Reddy.

The CBI has filed three charge sheets in the matter. The ED has already issued provisional attachment orders in connection with two cases relating to Lepakshi Knowledge Hub and Indu Techzone. The present attachment is in connection with the CBI charge sheet relating to various housing projects allotted by the then AP Housing Board to Indu Group.

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