Enforcement Directorate attaches Jagan Mohan Reddy’s Rs 47 crore property

Hyderabad: The Enforcement Directorate, Hyderabad zone office, on Monday attached properties worth Rs 47 crore belonging to AP Leader of Opposition Y.S. Jagan Mohan Reddy.

The properties of Janani Infrastructure, Jagati Publication that publishes Sakshi newspaper and Indira Television that owns Sakshi TV were attached.

In September 2013, CBI had filed cases against Mr Reddy and his companies in connection with a quid pro quo case where in Penna Group of companies, owned by Pratap Reddy, had invested in Mr Reddy’s companies for favours he allegedly received from the then CM Y.S. Rajasekhar Reddy’s government.

PR Energy Holdings Limited of Penna group had invested in all three companies of Mr Reddy. One of the companies, Carmel Asia Holdings, received Rs 23 crore and Jagati received Rs 45 crore from PR Energy.

“This amount of Rs 68 crore was received by Mr Reddy in return of undue benefits granted to Penna, like grant of mining leases and alienation of government lands.

“Investigations revealed that of the Rs 68 crore, an amount of Rs 47 crore was invested. Fixed assets like machinery plants and land and buildings of the companies were attached by the provisional order,” said an ED official.