Big Blow to Jagan

Posted : August 20, 2014 at 6:46 pm IST by ManaTeluguMovies

TTGT01

In a major blow to beleaguered YS Jagan Mohan Reddy, a special anti-money laundering court in New Delhi confirmed ED’s previous order on Tuesday to attach the alleged properties of him, his aides (worth Rs 863 Crore). The court order comes close on the heels of ED’s previous notices against Jagan, Nimmagadda Prasad in March 2014.

ED had slapped separate cases on the duo in connection with its probe into reported corruption in VANPIC (Vadarevu and Nizampatnam Industrial Corridor) infrastructure project in Andhra Pradesh. ED alleged that the companies of Nimmagadda and Jagan were benefitted by the then AP government, headed by then CM-late YS Rajasekhar Reddy, in VANPIC.

The ED probe said there was ‘quid pro quo’ in this deal and hence illegal money transferred the hands. With none other than the ‘adjudicating authority’ (Court) confirming ED’s order, we hear that the national agency will soon take posession of these assets.