Jagan loses Sakshi Towers and Lotus Pond to ED

Enforcement Directorate (ED) had attached assets worth 749.10 Crore belonging to Andhra Pradesh Opposition Leader, YS Jagan Mohan Reddy. The attached Assets also include Jagan’s Lotus Pond Residence, Sakshi Towers and the commercial complex in Bengaluru ‘Commerce @ Mantri’. ED also attached shares of Jagan and his wife Bharati in various companies.

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These assets are attached in relation to Bharati Cements Chargesheets. ED had concluded that the then Congress government under Jagan’s father leadership benefitted Bharati Cements to the tune of 152 Crore. These assets are even though totals to 749.10 Crore, they run in to 5000 Crore in open market.

This is the biggest attachment by ED in Jagan’s corruption cases in recent times. Jagan currently resides in Lotus Pond Residence and it is also used as YSR Congress’ Central head quarters. This attachment will not go well with the Leader of Opposition who is just back in the country after a brief abroad holiday.