Rs 143 cr assets attached in Jagan money laundering case

Similar orders in pipeline to build case against YSR Congress party chief in money laundering case, say sources

PTI | January 8, 2013



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 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.

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, YS Rajasekhara Reddy, as the chief minister.

Comments

 

Other News

Stories to read over the weekend

At one time these pale rooms of the Delhi commission for women looked like sleepy corners of officialdom; they are now best described as a bustling sarkari office. The woman who transformed this moribund organisation hardly looks like a powerful leader. Dressed in casual blue jeans and loose deni

Tata Trusts, PFA to build state-of-the-art veterinary hospital

Tata Trusts and People For Animals (PFA) announced their collaboration to build a state-of-the-art, multi-specialty veterinary hospital and emergency clinic at Navi Mumbai to serve the needs of all domestic and farm animals at affordable rates.   The hospital will be built in Kala

The shot just got smarter

A long queue of women, infants in their arms, extends outside the immunisation room at the community health centre (CHC) in Bhangel village, Noida, a pink double-storey building beside a bustling market. Unmindful of the chit-chatting and baby babble, Mariamma Samuel, an auxiliary nurse-cum-midwi

Do you think fugitive industrialist Vijay Mallya will be extradited from Britain to India?

Do you think fugitive industrialist Vijay Mallya will be extradited from Britain to India?

Reform first, privatise later: Bibek Debroy to railways

Before privatisation and corporatisation, the Indian Railways need to undertake major reforms including commercial accounting, decentralisation and human resource among others, said Bibek Debroy, economist and member, NITI Aayog at Railways Reforms and Governance Conclave organised by Governance Now on Fri

NTPC plans for 32 GW installed capacity via renewable sources

NTPC Ltd has raised Rs 2,000 crore through green masala bonds in overseas market under its $4 billion medium term note programme, union minister Piyush Goyal informed the Lok Sabha. The proceeds of these bonds will be used for financing renewable energy projects in accordance with applicable

Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter