ED attaches Jagan's assets

In fresh trouble for YSR Congress chief Y S Jaganmohan Reddy, the Enforcement Directorate on Monday attached his properties worth over Rs 47 crore in connection with a money laundering case. The ED 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 chargesheets filed on September 10, 2013 against Jagan's companies — Jagati Publications and Carmel Asia Holdings Pvt Ltd, alleging receipt of money from M/s PR Energy Holdings Ltd, in return for "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 Rs 45 crore from M/s PR Energy Holdings Ltd. This amount of Rs 68 crore had been received by Y S Jagan Mohan Reddy's companies, in return for undue benefits granted to M/s Penna Group like grant of mining leases and alienation of government land 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," ED joint director KSVV Prasad said in a statement here.
"Accordingly, corresponding properties were identified in the form of fixed assets like 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, Mahbubnagar, Warangal, Nizamabad of Telangana besides Kurnool, Nellore, Prakasam, Krishna and Chittoor districts of Andhra Pradesh, the statement said.
Jagan, who represent the Pulivendula assembly seat is the prime accused in the case.
The CBI has accused Jagan of amassing huge wealth through illegal means by misusing the office of his father YSR, when he was chief minister of Andhra Pradesh between 2004 and 2009.
The agency had filed 11 chargesheets in connection with the case pertaining to alleged investments made by various private firms and individuals to the tune of several crores in Jagan's businesses, as part of quid-pro-quo arrangement in exchange for alleged favours by the erstwhile YSR Rajasekhara Reddy government.
In March this year, the ED had attached assets worth Rs 863 crore belonging to Jaganmohan Reddy and his associates in connection with its probe into alleged corruption in an infrastructure project in Andhra Pradesh.
The agency had slapped separate notices against Jagan and Nimmagada Prasad whose companies were allegedly favoured by the then YSR regime in the Vadarevu and Nizampatnam Industrial Corridor (VANPIC) project whose aim was to develop sea ports and a green field airport in coastal areas of the southern state and industrial corridors in Prakasam and Guntur districts.