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Jagan assets case: ED attaches Rs 130 crore!
By: Tupaki Desk | 26 March 2015 11:37 AM GMT
The Enforcement Directorate attached properties worth Rs 130 crores belonging to Indu Projects Limited and its managing director I Syam Prasad Reddy in connection with the disproportionate assets case of YS Jaganmohan Reddy.
This include 3 immovable assets worth Rs 128,50,80,500 and 2 movable assets valued at Rs 1,00,82,896. About 8,648.81 acres in Chilamathur and Gotantla Mandals (Anantapur), 25 acres belonging to Asara Realty Ventures in Nagpur Rural District (Maharashtra), 2.57 acres in Phase 13 of Kukatpally Housing Board and Rs 1.01 crore of Lepakshi Knowledge Hub were attached.
As per CBI Chargesheet, Syam Prasad Reddy has invested in Jagan's companies to receive undue benefits from state government during former chief minister late YS Rajasekhar Reddy's tenure.
Enforcement Directorate registered a money laundering case against Jagan and Syam Prasad Reddy under Prevention of Money Laundering Act, 2002(PMLA).
During the investigation, Quid Pro Quo deals between YSR's Government and Syam Prasad Reddy have been exposed. Lepakshi Knowledge Hub Private Limited, Lepakshi Integrated Textile Park Private Limited, Lepakshi Science and Technology Park Private Limited, Lepakshi Heritate Wellness Village Private Lmited and Indu Project Limited received undue favours.
This include 3 immovable assets worth Rs 128,50,80,500 and 2 movable assets valued at Rs 1,00,82,896. About 8,648.81 acres in Chilamathur and Gotantla Mandals (Anantapur), 25 acres belonging to Asara Realty Ventures in Nagpur Rural District (Maharashtra), 2.57 acres in Phase 13 of Kukatpally Housing Board and Rs 1.01 crore of Lepakshi Knowledge Hub were attached.
As per CBI Chargesheet, Syam Prasad Reddy has invested in Jagan's companies to receive undue benefits from state government during former chief minister late YS Rajasekhar Reddy's tenure.
Enforcement Directorate registered a money laundering case against Jagan and Syam Prasad Reddy under Prevention of Money Laundering Act, 2002(PMLA).
During the investigation, Quid Pro Quo deals between YSR's Government and Syam Prasad Reddy have been exposed. Lepakshi Knowledge Hub Private Limited, Lepakshi Integrated Textile Park Private Limited, Lepakshi Science and Technology Park Private Limited, Lepakshi Heritate Wellness Village Private Lmited and Indu Project Limited received undue favours.
