ADVERTISEMENT
ADVERTISEMENT

ED freezes Rs 34 cr FDs of Jagati

ED freezes Rs 34 cr FDs  of Jagati
Highlights

In yet another attachment order, the Enforcement Directorate (ED) on Friday froze fixed deposits worth over...

In yet another attachment order, the Enforcement Directorate (ED) on Friday froze fixed deposits worth over Rs 34 crores belonging to Jagati A Publications owned by YSR Congress leader Y S Jaganmohan Reddy.

The attachment order, fourth in the series so far, comes in connection with the probe into money laundering allegations against Jagan and others. In its attachment order ED termed the FDs worth Rs 34.66 crores as 'proceeds of crime'. The FDs were made with the Jubilee Hills branch of Oriental Bank of Commerce in the name of Jagati Pubications Limited.

With the fresh order, the ED has attached more than Rs 300 crores worth of assets belonging to Jagan and others. A The investigation under the provisions of Prevention of Money Laundering Act (PMLA) has revealed that payments received from A K Dandamudi, T R Kannan and Madhav Ramchandra totaling Rs 34.66 crores to Jagati Publication Limited is proceeds of crime and parked with Oriental Bank of Commerce," the ED said in its order.

The agency has earlier issued three separate attachment orders for Rs 51 crores, Rs 71 crores and Rs 143.74 crores in this case.

Show Full Article
Download The Hans India Android App or iOS App for the Latest update on your phone.
Subscribed Failed...
Subscribed Successfully...
More Stories


Top