YS Jagan in Soup – ED Makes a Key Decision

The assets of Y.S. Jagan, worth 749 cores which were taken into custody of Enforcement Directorate, this year in June were under the case with adjudicative authority and ED submitted the charge sheet filed by CBI to the authority for further proceedings.

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The adjudicative authority now approved this attachment and ED has transferred the FD’s worth 170 crores along with the shares of Bharati Cements. These assets of Bharati cement and other properties belonging to Sakshi media have been charged and been attached by ED in June and debates were produced at the court with Adjudicating Authority.

The assets that were charged in June included Commercial complex of Bengaluru, Lotus Pond residence at Jubilee Hills, and Sakshi towers. The case has been under investigation for years and finally, Adjudicative authority supported ED’s attachment and approved the same pushing Jagan into soup.