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Jagan Case: ED Attaches Assets Worth Rs 148 Crores

The ED attached land worth Rs 148.89 crores of companies of Nimmagadda Prasad in AP in the Y S Jaganmohan Reddy disporportionate assets case.
Hyderabad | 28th July 2017
The Enforcement Directorate (ED) has attached assets worth over Rs 148 crores in connection with its money laundering probe in cases related to YSR Congress Party president Y S Jaganmohan Reddy and others.

The CBI had filed corruption cases against Reddy on charges of quid pro quo favours when the late Y S Rajasekhar Reddy was Chief Minister of united Andhra Pradesh.

"ED has attached land worth Rs 148.89 crores of companies of Nimmagadda Prasad in Andhra Pradesh under PMLA in the Y S Jaganmohan Reddy case," the investigation agency said in a statement.

The ED began its probe into the affairs of the politician and his associates on the basis of a CBI FIR that stated that since May 2004, Jagan had floated a number of companies into which quid pro quo investments had been made by the beneficiaries of decisions of the state government in matter including permissions for SEZs (Special Economic Zones) and award of irrigation contracts.
filed in:  Enforcement Directorate, Y S Jaganmohan Reddy, Crime, Andhra Pradesh Crime, Business Crimes, Andhra Pradesh, Nimmagadda Prasad
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