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Enforcement Directorate attaches Rs 143 crore assets of Jagan Mohan Reddy

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YSR Congress party chief Jagan Mohan Reddy.PHOTO: Satish. H
YSR Congress party chief Jagan Mohan Reddy.PHOTO: Satish. H

In a fresh crackdown on YSR Congress party chief Jagan Mohan Reddy and his associates, the Enforcement Directorate on Tuesday attached assets worth Rs 143.74 crore in connection with its probe in the money laundering case against him.

The ED attachment order, under criminal provisions of the Prevention of Money Laundering Act (PMLA), comes in less than four months after the agency first issued two separate attachment orders of Rs 51 crore and Rs 71 crore respectively against the Kadapa Member of Parliament and others involved in this disproportionate assets case.

The ED, according to agency sources, has few more similar orders in the pipeline as it plans to build a water tight case against Jagan and his associates.

Today’s order has been issued against the Ramky group of companies which the ED order alleges earned “proceeds of crime” by alleged illegal favours done by the then Andhra Pradesh government and the firm gave kickbacks for favours by remitting illegal money in a firm owned by Jagan Reddy.

The case pertains to the tenure of Jagan’s father and former Chief Minister Y S Rajasekhara Reddy, who died in a helicopter crash in 2009.

“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 as CM.

The agency is probing the case on the basis of an FIR filed by the CBI to investigate alleged disproportionate assets amassed by Jagan

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