ED attaches Rs 232cr assets of Jagan, others
27 Feb 2015 12:28 AM GMT
Enforcement Directorate (ED) has attached assets worth over Rs 232 crore in connection with its money laundering probe against YSR Congress chief Jagan Mohan Reddy and former BCCI top boss N Srinivasan in the alleged illegal investments case between the business entities of the two and few others.
The agency has registered a criminal case under the Prevention of Money Laundering Act (PMLA) to probe alleged bribes paid by Srinivasan, also the Managing Director of Ms India Cements Limited, to Reddy as "quid-pro-quo for undue favours received by his company from the government of Andhra Pradesh" when Jagan's father YS Rajasekhara Reddy was the state Chief Minister.
ED, in the latest order, attached a number of land plots of Ms Janani Infrastructure Limited (firm owned by Jagan) and those of India Cements in Andhra Pradesh and Karnataka along with fixed deposits and shares.
The agency has registered a criminal case under the Prevention of Money Laundering Act (PMLA) to probe alleged bribes paid by Srinivasan, also the Managing Director of Ms India Cements Limited, to Reddy as "quid-pro-quo for undue favours received by his company from the government of Andhra Pradesh" when Jagan's father YS Rajasekhara Reddy was the state Chief Minister.
ED, in the latest order, attached a number of land plots of Ms Janani Infrastructure Limited (firm owned by Jagan) and those of India Cements in Andhra Pradesh and Karnataka along with fixed deposits and shares.
Next Story
