Assets worth Rs 148 crore were attached

DECCAN CHRONICLE.
Published Jan 4, 2018, 1:11 am IST
Updated Jan 4, 2018, 1:11 am IST
The Enforcement Directorate began investigating Mr Jaganmohan Reddy and his associates based on a FIR filed by the CBI.
According to the FIR, in May 2004, Mr Reddy floated a number of companies.
 According to the FIR, in May 2004, Mr Reddy floated a number of companies.

HYDERABAD: The Enforcement Directorate on Wednesday attached assets worth Rs 117.74 crore in connection with a money-laundering case it is investigating against YSR Congress chief Jaganmohan Reddy and others. 

The Enforcement Directorate began investigating Mr Jaganmohan Reddy and his associates based on a FIR filed by the CBI.

 

According to the FIR, in May 2004, Mr Reddy floated a number of companies wherein quid pro quo investments were made by those who benefited from decisions of the state government in various projects like SEZs (special economic zones), irrigation contracts, relaxation/permission for real estate ventures and mines among others.

In July 2017, the ED had attached assets worth over Rs 148 crore of Mr Reddy for illegally allotting 11,804.78 acres of land to companies of Nimmagadda Prasad in Prakasam and Guntur districts of Andhra Pradesh.”

Location: India, Telangana, Hyderabad




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