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ED attaches Jagan's properties worth over Rs 47 cr

The investigation under Prevention of Money Laundering Act (PMLA) by the ED (Hyderabad Zonal Office), revealed that M/s Carmel Asia Holding Pvt Ltd had received Rs 23 crore and Jagati Publications had received Rs 45 crore from M/s PR Energy Holdings Ltd.

December 16, 2014 / 03:25 PM IST

In fresh trouble for YSR Congress chief Y S Jagnamohan Reddy, the Enforcement Directorate has attached his properties worth over Rs 47 crore in connection with a money laundering case.


The ED on late Monady attached the properties pertaining to Jagati Publications, Indira Television and Janani Infrastructure Pvt Ltd, promoted and owned by Jagan. The case had been initiated by CBI in one of the charge sheets filed on September 10, 2013 against Y S Jaganmohan Reddy's companies-- Jagati Publications and Carmel Asia Holdings Pvt Ltd, alleging receipt of money from M/s PR Energy Holdings Ltd, in return of "undue benefits" granted to M/s Penna Group of Companies.


The investigation under Prevention of Money Laundering Act (PMLA) by the ED (Hyderabad Zonal Office), revealed that M/s Carmel Asia Holding Pvt Ltd had received Rs 23 crore and Jagati Publications had received Rs 45 crore from M/s PR Energy Holdings Ltd.


This amount of Rs 68 crore has been received by Y S Jagan Mohan Reddy's companies, in return of undue benefits granted to M/s Penna Group of Companies like grant of mining leases and alienation of government lands etc.


"Investigation conducted so far revealed that out of the Rs 68 crore, an amount of Rs 47 crore, which constitutes the proceeds of crime, has been invested in Jagati Publications, Indira Television and Janani Infrastructure Pvt Ltd," Joint Director of ED, KSVV Prasad, said in a statement.

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"Accordingly, corresponding properties were identified in the form of fixed assets-plant, machinery, land and buildings, with these companies and the same were attached today," the official said. The properties provisionally attached include Rs 5.59 crore worth plant and machinery of Jagati Publications, Rs 24.85 crore worth properties of Indira Television and land and buildings of Janani Infrastructure Pvt Ltd worth Rs 16.56 crore, in districts of Karimnagar, Nalgonda, Khammam, Mahabubnagar, Warangal, Nizamabad of Telangana besides Kurnool, Nellore, Prakasam, Krishna and Chittoor districts of Andhra Pradesh, the statement said. 

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