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ED attaches 53 cr assets in Jagan's PMLA case

ED attaches 53 cr assets in Jagans PMLA case
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The Enforcement Directorate has attached properties worth aver Rs 53 crore belonging to Indukuru Syam Prasad Reddy, Managing Director of Indu Project Limited, in a case of money laundering registered against YSR Congress Party president YS Jaganmohan Reddy and others.

Hyderabad: The Enforcement Directorate has attached properties worth aver Rs 53 crore belonging to Indukuru Syam Prasad Reddy, Managing Director of Indu Project Limited, in a case of money laundering registered against YSR Congress Party president YS Jaganmohan Reddy and others.

Based on the charge sheet filed by the CBI against Syam Prasad Reddy charging that he paid bribes to Jaganmohan Reddy in the guise of investments in the group companies of Jaganmohan Reddy through as quid pro quo for the undue favours received by his companies from the AP government, the ED had registered a case under the Prevention of Money Laundering Act, 2002 (PMLA).

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