Money laundering: ED attaches Rs 232 crore assets of Jagan Mohan Reddy, N Srinivasan

Hyderabad: 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 chief N Srinivasan in the alleged quid—pro—quo and illegal investments case.

CBI has registered a criminal case under the Prevention of Money Laundering Act (PMLA) to probe the alleged bribes paid by Srinivasan 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 attached a number of land plots of Ms Janani Infrastructure Limited, a firm owned by Jagan and those of India Cements in Andhra Pradesh and Karnataka along with fixed deposits and shares.

Both ED and CBI are probing this case and others associated with Jagan, parallely for over three years now. "The total value of attached assets is Rs 232.38 crore," the order, issued late yesterday evening by the zonal office of the agency, said.

The CBI charge sheet in this case, filed in 2013, said India Cements made alleged quid-pro-quo investments to the tune of Rs 140 crore into Jagan-owned companies and consequent "undue" benefits were received by the firm in allocation of land and water from rivers Krishna and Kagna from the then Andhra Pradesh Government led by his Chief Minister father.

ED has already attached assets worth over Rs 1,000 crore in the overall PMLA cases it is probing against Jagan, senior government officials of Andhra Pradesh and businessmen.