HYDERABAD: Division bench of the High Court on Thursday set aside the order of a single judge who restrained the Enforcement Directorate (ED) from going ahead against Bharathi Cements and other companies under the Prevention of Money Laundering Act.
The bench granted status quo till January 31 with regard to movable and immovable assets of these companies. Earlier, the ED had attached Rs 860 crore worth assets of the company and its management under the Act.
The attachment was part of the ED’s probe into the disproportionate assets case of YSRC president Jagan Mohan Reddy. After hearing the arguments, the bench said that the single judge had not shown the reasons in his order. The bench suggested that the single judge hear the case afresh.