High Court to Decide the Fate of Jagan’s Assets

Hyderabad High Court will hear all the 13 writ petitions filed by YSR Congress President YS Jagan Mohan Reddy, his companies and associates challenging the attachment and dispossession proceedings launched by the Enforcement Directorate (ED) in the Bharati Cements case, on January 31.

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ED has attached the 749 crores worth of movable and immoveable assets of Jagan’s companies terming them as proceeds of crime that were accrued on account of a quid pro quo deal between Jagan and the then AP government. ED has managed to get the approval of adjudicating authority and started taking over those assets.

Jagan, his companies, and associates have approached the High Court challenging the dispossession process. After getting a stay from a single judge, ED appealed over it before a division bench. The bench, however, directed Justice Ramalingeswara Rao to hear all the writ petitions and they will be taken up on January 31st.