Attached properties include shares, plant and machinery and FD receipts
Jagan Mohan Reddy. (Photo: DC/File)
Hyderabad: The Enforcement Directorate Adjudicating Authority on Tuesday came down heavily and ensured provisional attachment of Rs 863 crore in properties of YSRC president Y. S. Jagan Mohan Reddy and industrialist Mr Nimmagadda Prasad.
The attachment order was issued in March regarding the Vanpic conspiracy case and the ED will now take possession of the properties. The properties attached are held by Mr Reddy and his companies Carmel Asia Holdings Private Ltd. and Jagati Publications. N. Prasad’s companies G2 Corporate Services Ltd., Alpha Villas, Alpha Avenues, Gilchrist Investments, Suguni Constructions and Beta Avenues were also attached.
The attached properties include shares, plant and machinery worth Rs 365.45 crore and fixed deposit receipts of Rs 4.14 crore of Jagati Publications, shares of Indira Television Ltd. for Rs 100.44 crore, properties of Mr Reddy accounting for Rs 11 crore, shares of Sandur power held by him to the tune of Rs 57 crore. Shares of Sandur power of Rs 35 crore, immovable assets of Rs 2.55 crore held by N. Prasad and shares of JPPL and other companies were attached. An area of 561.2 acres held by Vanpic worth Rs 27 crore was also attached.
Ports Limited, lands worth Rs 27 crore and area worth 855 crores held by Vanpic Projects Limited were also attached by the ED. The CBI had earlier filed a charge sheet regarding Vanpic project comprising two seaports Vadarevu and Nizampatnam, port based industrial corridor in Prakasham and Guntur, various concessions extended to the project in the form of alienation of huge chunks of assigned and government lands to the companies floated by Mr Prasad.
CBI said in the charge sheet that Rs 1,426.17 crore of illegal gain was accrued by Mr Prasad illegally through the acquisition of lands and Rs 854 crore by Mr Reddy in the form of quid pro quo investments by Mr Prasad.
( Source : dc correspondent )
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