One More Attachment in Jagan’s Cases

While YSR Congress is bracing up for Nandhyal By-election, the party is in for a shock as Enforcement Directorate (ED) had attached Land worth 148.89 Crore in Jagan Mohan Reddy’s disproportionate assets case. The land belongs to Nimmagadda Prasad and was attached under Prevention of Money Laundering Act (PMLA) of companies.

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This is one of the numerous attachments by ED in the cases on Jagan. Nimmagadda Prasad was also in jail along with Jagan in 2013. Jagan floated a number of companies wherein quid pro quo investments have been made by beneficiaries from decisions of the state government headed by his father.

The investors of Jagan’s companies were benefitted in various forms like SEZs (special economic zones), irrigation contracts, relaxation/permission for real estate ventures, mines among others. Jagan is the Prime Accused and his family auditor Vijaya Sai Reddy, now Rajya Sabha MP from YSR Congress is the Accused No.2.