ED attaches properties worth Rs 232 cr in Jagan assets case

HYDERABAD (TIP): Moving ahead with its attachments in the disproportionate assets case against YSR Congress president Jaganmohan Reddy, the Enforcement Directorate (ED) on Feb 26 attached 29 assets worth Rs 232 crore belonging to Bharati Cements, India Cements, Janani Infrastructure, Jagati Publications (publisher of Sakshi newspaper) and Carmel Asia Holdings.

The assets were in the form of fixed deposits, land and buildings and shares of companies, etc. According to ED officials, only book values of these assets were shown in the attachment order and their current market value could well go beyond Rs 1,000 crore.

ED joint director KSVV Prasad said the attachments were made in accordance with the provisions of Prevention of Money Laundering Act in the India Cements episode of Jagan assets case. A case of money laundering was registered against Jaganmohan Reddy after the ED probe found that India Cements MD N Srinivasan received undue benefits in the form of excess water allocation, allotment of land, etc. for his cement plants.

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