The adjudicating authority of the Enforcement Directorate on Thursday ratified the attachment of Ramky Group assets worth Rs 143.74 crore by the agency on January 7 this year in Kadapa MP YS Jagan Mohan Reddy’s alleged illegal assets case.
The Enforcement Directorate had attached the assets of Ramky following its probe into the money laundering case against Jagan. “Immovable properties and movable assets worth Rs 143.74 crore under Section 5(1) of the Prevention of Money Laundering Act (PMLA) are being attached. The properties attached are from Ramky Pharma City (India) Limited which are approximately 135.46 acres of land and deposit of Rs 3.20 crore in mutual funds and fixed deposits for Rs 10 crore from Jagati Publications Private Limited (held by Jagan Mohan Reddy),” the attachment order said.
The agency is probing the case on the basis of a first information report filed by the CBI to investigate assets of Jagan alleged to be disproportionate to his known sources of income and acquired during the tenure of his father YS Rajasekhara Reddy as chief minister. The ratification of the ED’s attachment order assumes significance as it lends strength to the agency’s case against Jagan.