Corruption vice comes back to haunt YS Jagan
Corruption Vice Comes Back To Haunt YS Jagan. As days go by, the Disproportionate assets case hoisted by CBI on the YSRC president is getting more and more murky.
As days go by, the Disproportionate assets case hoisted by CBI on the YSRC president is getting more and more murky. Now, it is not just a case of Quid Pro Quo, but also money laundering .
Remember the real estate sharks Syam Prasad Reddy and Ayodhya Prasad Reddys of the Indu projects? YSR paid good dividend to their loyalty for building his Banjara Hills plot into shopping mall. After their Lepakshi project bombed and government took back the land, now it's time for them to be hit by the Enforcement Directorate.The Reddys had mortgaged government land and also raised Rs.750 crore bank loan for their other enterprises.
The ED on Monday temporarily attached properties valued at Rs. 53 crore belonging to industrialist I. Syam Prasad Reddy in the quid pro quo investments case against YSR Congress president Y.S. Jagan Mohan Reddy and others.
The properties attached by the ED include 153 acres land at Mamidipally SEZ in Saroornagar mandal of Ranga Reddy District, 100 acres land belonging to SPR Properties at the same place and a residential property worth Rs. 3.11 crore of the Walden Group at Jedimetla on the outskirts of Hyderabad. The last two firms are companies in the Indu Group.
The ED's fresh move is based on the CBI chargesheet on the land allotted to SEZ, Indu Tech Zone among the 11quid pro quo cases. The ED has concluded that Syam Prasad Reddy was allotted over 250 acres land in Mamidipally SEZ in violation of norms in return for his Rs.70 crore investments in Jagan's group of companies.