Hyderbad High court on Monday directed the CBI court to expedite the hearing of Jagan’s assets cases. Following the directive, ED also filed a petition before the Hyderabad metropolitan sessions judge seeking transfer of the trial court (CBI court) proceedings of one case to the ED court.
The case one among the eleven cases on Jagan is being dealt with the Prevention of Money Laundering Act (PMLA) under which the ED is proceeding, make it mandatory that all related cases should be transferred to the ED court.
This particular case is that illegal investments to the tune of 34.65 Crore to Jagathi Publications (Sakshi). It is said that company was running in losses but still investments are made by buying back its shares paying an extra premium with out any rationale but quid pro quo deals.
