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

BSNL unveils satellite phone service

Minister of state for communications (I/C) Manoj Sinha has launched BSNL’s satellite phone service that will be offered to government agencies in phase one and later opened for others.  While unveiling the new service, Sinha said BSNL works where no other network is present.

Govt to raise Rs 2,360 crore for renewable energy

The cabinet has given it’s green signal to raise bonds of Rs 2,360 crore for renewable energy. The bonds will be raised by the ministry of new & renewable energy (MNRE) through the Indian Renewable Energy Development Agency (IREDA), a Miniratna enterprise, during current fiscal.

CEA’s campaign against ‘poor standards’ finds some success

Chief economic advisor Arvind Subramanian’s campaign for some sense in country ratings has finally found some success. Global rating agency Moody`s Investors Service has downgraded China`s long-term local currency and foreign currency issuer ratings to A1 from Aa3 and changed the outlook to stable fr

Doubling farmers’ income challenging, yet attainable: Niti Aayog

The low level of farmers` income and year to year fluctuations in it are a major source of agrarian distress. This distress is spreading and getting severe over time impacting almost half of the population of the country that is dependent on farming for livelihood, said a Niti Aayog policy paper.

Governance, development no longer govt’s agenda: Civil society

The civil society has strongly criticized the Narendra Modi government that completes three years in office. Citizens’ Report: Promises and Reality tha

Parody of the health mission

Improving the availability of health workers, particularly at the sub-centre level, has been one of the thrust areas of the national rural health mission (NRHM).  Back in 2005, most of the sub-centres in the country were run by a single auxiliary nurse midwife (ANM). ANMs were overbu



Video

प्रभुनाथ सिंह को हत्याकांड में उम्रकैद की सजा

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter