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Jagan case: ED attaches Rs 7.85 crore Assets!
By: Tupaki Desk | 13 Aug 2015 2:29 PM GMT
In a latest move, the Enforcement Directorate has attached assets worth Rs 7.85 crore in connection with the money laundering case of YSR Congress president YS Jaganmohan Reddy.
The assets belonged to Ms Penna Cement Industries Limited and Ms Pioneer Holiday Resorts Limited. This include some immovable assets including lands in Anantapur district and a hotel in Banjara Hills.
During the investigation, ED came to know about the undue favours received by Ms Penna Cement Industries Limited and Ms Pioneer Holiday Resorts Limited for United AP Government during YSR's regime. The favours include government lands, license for limestone, renewal of mining lease, necessary permissions & relaxations for hotel construction. In return, These firms have paid huge bribes to Jagan in the name of investing in his companies and its a clear case of quid-pro-quo.
Since it filed money laundering case against Jagan in 2010, Enforcement Directorate has attached over Rs 1,000 crore assets under the Prevention of Money Laundering Act (PMLA).
The assets belonged to Ms Penna Cement Industries Limited and Ms Pioneer Holiday Resorts Limited. This include some immovable assets including lands in Anantapur district and a hotel in Banjara Hills.
During the investigation, ED came to know about the undue favours received by Ms Penna Cement Industries Limited and Ms Pioneer Holiday Resorts Limited for United AP Government during YSR's regime. The favours include government lands, license for limestone, renewal of mining lease, necessary permissions & relaxations for hotel construction. In return, These firms have paid huge bribes to Jagan in the name of investing in his companies and its a clear case of quid-pro-quo.
Since it filed money laundering case against Jagan in 2010, Enforcement Directorate has attached over Rs 1,000 crore assets under the Prevention of Money Laundering Act (PMLA).
