HYDERABAD: The Enforcement Directorate informed the Hyderabad High Court on Wednesday that it had issued notices to Bharathi Cements Corporation Ltd belonging to the family of YSR Congress president Jagan Mohan Reddy and other companies for symbolic possession of properties attached by it in the illegal investments case of Jagan under the Prevention of Money Laundering Act.
Justice A Ramalingeswara disposed of the petitions filed by the Bharathi Cements and others challenging the notices issued by the ED to take possession of attached properties.
ED counsel PSP Suresh Kumar, while placing the counter affidavit, said they had not taken possession and that it was only a notice issued under Section 5(2) of the PMLA Act for symbolic possession. The actual possession of attached properties would be taken after the disposal of the appeals of the petitioner companies pending before ED’s appellate authority, he said.
Advocate S.Sriram, appearing for Classic Realty Ltd, one of the petitioner companies, said ED’s action was in contrary to the orders of a division bench of the High Court and orders of a single judge and also orders of the appellate tribunal of ED on February 7, directing the ED to maintain status quo. ED’s counsel argued that they had not violated the orders of the court or the appellate tribunal.
After hearing both the sides, the judge closed the matter, saying that no orders were required in the case at this juncture.