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Court orders Rs 863 crore property attachment of Jaganmohan Reddy and associates

India TV News Desk 20 Aug 2014, 9:58:24 AM IST
India TV News Desk
New Delhi: A special anti-money laundering court in New Delhi ordered attachment of properties worth Rs 863 crore rupees of YSR Congress chief Jaganmohan Reddy and his associates in connection with alleged corruption and money laundering case in Andhra Pradesh.
As per the reports, the orders came in the wake of a notice issued by the Enforcement Directorate (ED) in March slapping separate notices against Jagan and Nimmagada Prasad.
Companies of both the individuals were allegedly favoured by the then Andhra Pradesh government headed by Jagan's father YS Rajasekhara Reddy in the Vadarevu and Nizampatnam Industrial Corridor.
The current order, under the Prevention of Money Laundering Act (PMLA), has been the largest order for attachment of assets in this case.
The project's aim was to develop sea ports and a greenfield airport in coastal areas of Andhra Pradesh and industrial corridors in Prakasam and Guntur districts.
Earlier in 2012, the Enforcement Department had registered a criminal probe against the individuals and associated firms based on a CBI FIR in the case.