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ED attaches 130 cr assets in Jagan case

ED attaches 130 cr assets in Jagan case
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In yet another jolt to YSRCP president Y S Jaganmohan Reddy, the Enforcement Directorate (ED) has attached properties worth Rs 130 crore belonging to the Lepakshi Knowledge Hub Pvt Ltd, Asara Realty Ventures and the Cyberabad Hitech Integrated Township Development Corporation in connection with a money laundering case.

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Hyderabad: In yet another jolt to YSRCP president Y S Jaganmohan Reddy, the Enforcement Directorate (ED) has attached properties worth Rs 130 crore belonging to the Lepakshi Knowledge Hub Pvt Ltd, Asara Realty Ventures and the Cyberabad Hitech Integrated Township Development Corporation in connection with a money laundering case.

The case is based on a chargesheet filed by the Central Bureau of Investigation (CBI) under Section 120-B read with Section 420 of Indian Penal Code and Section 13 of Prevention of Corruption Act. During the investigation, the ‘Proceeds of Crime’ were identified in the form of movable and immovable properties and the ED attached three immovable properties worth Rs 128,50,80,500 and two movable properties valued at Rs 1,00,82,896.

The attached properties are 8,648.81 acres in Chilamathur and Gotantla Mandals in Anantapur district; 25 acres in Hingana in Nagpur Rural district of Maharashtra belonging to Asara Realty Ventures, a sister concern of Indu Projects; 2.57 acres having built-up area of 14,196 sq feet in Phase 13 of Kukatpally Housing Board belonging to the Cyberabad Hitech Integrated Township Development Corporation Private Limited and Rs 1.01 crore of Lepakshi Knowledge hub. According to the ED, I Shyam Prasad Reddy, managing director of Indu Properties, is charged of having paid bribes to Y S Jaganmohan Reddy.

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