Hyderabad: In a major setback to YRS Congress chief Jagan Mohan Reddy and BCCI top N Srinivasan, Enforcement Directorate (ED) has attached assets worth over Rs 232 crore in connection with its money laundering probe in the alleged quid—pro—quo and illegal investments case between the business entities of the two and few others.
A criminal case has been registered by the agency under the Prevention of Money Laundering Act (PMLA) to probe alleged bribes paid by Srinivasan, also the Managing Director of Ms India Cements Limited, to Reddy as “quid-pro-quo for undue favours received by his company from the government of Andhra Pradesh” when Jagan’s father YS Rajasekhara Reddy was the state Chief Minister.
In the latest order ED had attached a number of land plots of Ms Janani Infrastructure Limited (firm owned by Jagan) and those of India Cements in Andhra Pradesh and Karnataka along with fixed deposits and shares.
Sources had claimed that investigating agency has gone through the CBI FIR and charge sheet filed in this case earlier. Both ED and CBI are probing this case and others associated with Jagan, parallely for over three years now.
“The total value of attached assets is Rs 232.38 crore,” the order, issued late yesterday evening by the zonal office of the agency here, said.
According to the attachment order the probe of ED found that firms of the accused like Ms Carmel Asia Holdings Private Limited, Ms Jagati Publication Limited, Ms Bharati Cement Corporation Private Limited and Ms Indian Cements Limited which “laundered the proceeds of crime in the form of investments.”
The CBI charge sheet in this case had been filed in 2013 that said India Cements made alleged quid-pro-quo investments to the tune of Rs 140 crore into Jagan-owned companies and consequent “undue” benefits were received by the firm in allocation of land and water from rivers Krishna and Kagna from the then Andhra Pradesh Government led by his Chief Minister father.
ED has already attached assets worth over Rs 1,000 crore in the overall PMLA cases it is probing against Jagan, senior government officials of Andhra Pradesh and businessmen.
Bureau Report
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