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Crisp hit to Jagan

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The Hindu Y. S. Jagan Mohan Reddy

ED connects properties worth Rs. 47 cr.; activity on three organizations takes after case started by CBI in September last.

In a significant setback to YSR Congress president Y.s. Jaganmohan Reddy in the compensation speculations cases, the Enforcement Directorate on Monday appended properties worth over Rs. 47 crore having a place with his three organizations – Jagati Publications Ltd, Janani Infrastructure Pvt. Ltd and Indira Television Ltd.

Joint Director of ED, Hyderabad Zone, K.s.v.v. Prasad, expressed that the connected properties incorporate plant and apparatus worth over Rs. 5.59 crore of Jagati Publications, grounds and structures at six spots and just structures at an alternate nine spots, both for the sake of Janani Infrastructure, worth about Rs. 16.56 crore and plant and apparatus worth Rs. 24.85 crore of Indira Television.

(The advantages and properties in the initial two connections are being used by a daily paper with numerous versions while the benefits in the third connection are being used by a TV station, claimed by Mr. Jaganmohan Reddy.)

The connection has been put forth in a defense started by the Central Bureau of examination (CBI) in September 2013 against Mr. Jaganmohan Reddy’s organizations – Jagati Publications and Carmel Asia Holdings Pvt. Ltd, claiming receipt of cash from PR Energy Holdings Ltd in exchange of undue advantages conceded to Penna Group of organizations.

The ED examination taken up under the Prevention of Money Laundering Act (PMLA), 2002, had uncovered that Carmel Asia had gotten Rs. 23 crore and Jagati Publications had gotten Rs. 45 crore from PR Energy Holdings.

This measure of Rs. 68 crore was gotten by Mr. Jaganmohan Reddy’s organizations in lieu of profits, for example, authorization of mining leases and estrangement of government grounds and others allowed to the Penna Group, Mr. Prasad said.

Further, the test had uncovered that Rs. 47 crore out of Rs. 68 crore constituted the returns of wrongdoing and was put resources into Jagati Publications, Janani Infrastructure and Indira Television.

Appropriately, relating properties were recognized as settled resources – plant and apparatus and terrains and structures with the three organizations and were joined, the ED Joint Director expressed.

The appended area and structures are found at Karimnagar, Kurnool, Nalgonda, Mangalagiri, Mahabubnagar and Nellore and just structures at Anantapur, Balanagar and Nacharam (Hyderabad), Khammam, Nizamabad, Ongole, Tirupati, Vijayawada and Warangal.

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