ED attaches ₹117 cr. assets in Jagan case

The Enforcement Directorate has attached assets worth ₹117.74 crore in a money laundering probe against YSR Congress chief Y.S. Jagan Mohan Reddy and others.

The attached properties belong to the companies of I. Syam Prasad Reddy, including the assets of Indu Projects, Embassy Property Developments and Vasantha Projects in the Indu-Andhra Pradesh Housing Board, according to the Directorate.

The case pertains to alleged quid pro quo where Mr. Syam Prasad Reddy made huge investments in the companies floated by the YSR Congress chief.

The investments were made for the favours allegedly received in the allotment of 8,844 acres for Lepakshi Knowledge Hub Private Limited, 250 acres at Shamshabad for Indu Techzone Private Limited and various housing projects to Indu Group, when late Y.S. Rajasekhara Reddy was Andhra Pradesh Chief Minister.

The Central Bureau of Investigation has filed three chargesheets in the matter.

The ED has already issued provisional attachment orders in connection with two cases relating to Lepakshi Knowledge Hub and Indu Techzone.

“The present attachment is in connection with the CBI chargesheet relating to various housing projects allotted by the then A.P. Housing Board to Indu Group,” said the agency.