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ED Serves Notices To Jagan

The ED has registered a case under the provisions of the Prevention Of Money Laundering Act (PMLA) against Jagan.
Hyderabad | 10th November 2011
The Enforcement Directorate (ED) on Thursday issued summons to YSR Congress president and Kadapa MP Y S Jaganmohan Reddy in connection with a money-laundering case.

The ED has asked Jaganmohan Reddy to send an authorized person with a power of attorney, to submit documents and answer questions on his behalf at its headquarters in New Delhi on or before 28 November.

The ED has registered a case under the provisions of the Prevention Of Money Laundering Act (PMLA) against him, and is also probing alleged contravention of foreign exchange rules in his financial transactions and investments.

The ED's action comes days after the Central Bureau Of Investigation had searched various premises belonging to Jagan.

The CBI, which has also registered a case against Jagan, had called him recently for questioning in connection with the alleged multi-crore illegal iron ore mining scam. The agency is said to be probing an alleged nexus between Jagan and former Karnataka minister Gali Janardhana Reddy (who owns Obulapuram Mining Company).

The case was registered after the ED conducted a probe to trail the funds pumped into the companies of the Kadapa MP and his associates by the companies owned by Gali Janardhan Reddy. (INN)
filed in:  Cheating, Scams, Enforcement Directorate, Mining Scam
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