Rs 232 Cr worth properties attached in Jagan's case
Hyderabad: The Enforcement Directorate on Thursday attached properties worth Rs 232.28 crore in the Disproportionate Assets Case of YSR Congress Party president YS Jagan Mohan Reddy.
According to the Enforcement Directorate, based on the charge sheet filed by CBI alleging that N Srinivasan, Managing Director of M/s The India Cements Limited, paid bribes in the guise of investments in group companies of Jagan Mohan Reddy as quid pro quo for the undue favours received by his company, M/s The India Cements Limited from Government of Andhra Pradesh, the Directorate of Enforcement (ED), Hyderabad Zonal Office had registered a Money Laundering Case against Jagan Mohan Reddy and others under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA).
Investigations under PMLA by the Enforcement Directorate revealed that M/s Carmel Asia Holdings Private Limited, M/s Jagati Publication Limited, M/s Bharati Cement Corporation Private Limited and M/s The India Cements Limited has laundered the proceeds of crime in the form of investments.
"During investigation under the PMLA, the Proceeds of Crime were identified in the form of movable / immovable properties and investments. In total, five immovable properties of value over Rs 6 Crore and 24 movable properties of value of over Rs 226 crore held by M/s Bharathi Cement Corporation Private Limited, M/s The India Cements Limited and others were attached vide Provisional Attachment Order No.O4/2015 dated 25.02.2015. Total value of attached properties is about Rs.232.28 Crore," the ED said in a press release.
News Posted: 26 February, 2015
|
