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Jagan DA Case Assets belong to AP Govt
By: Tupaki Desk | 13 March 2016 10:11 AM GMT
AP Government is keen on taking over the assets attached by Enforcement Directorate in connection with YS Jaganmohan Reddy's disproportionate assets case. Chief Minister Chandrababu Naidu already made his intention clear speaking at a public meeting few days ago.
Finance Minister Yanamala Ramakrishnudu told, 'Even though the assets attached by ED were in the control of Central Government, They actually belong to the state'.
State Government is mulling to take over the assets of Jagan's case using the provisions of AP Special Courts Act, 2015. The Act was already approved by Union Home Ministry and Union Law Ministry. Once AP receives the nod of President, Special Courts will be set up to speed up the trail of Jagan's DA Case and seize the assets.
So far, ED attached over Rs 2,000 crore assets of Jagan Companies. Notices were already issued to seize additional Rs 4,000 crore assets belonging to Bharati Cements, India Cements, Indu Projects, Lepakshi Knowledge Hub, Ramky and Caramel Asia Holdings.
Finance Minister Yanamala Ramakrishnudu told, 'Even though the assets attached by ED were in the control of Central Government, They actually belong to the state'.
State Government is mulling to take over the assets of Jagan's case using the provisions of AP Special Courts Act, 2015. The Act was already approved by Union Home Ministry and Union Law Ministry. Once AP receives the nod of President, Special Courts will be set up to speed up the trail of Jagan's DA Case and seize the assets.
So far, ED attached over Rs 2,000 crore assets of Jagan Companies. Notices were already issued to seize additional Rs 4,000 crore assets belonging to Bharati Cements, India Cements, Indu Projects, Lepakshi Knowledge Hub, Ramky and Caramel Asia Holdings.
