HYDERABAD: The Enforcement Directorate has filed counter affidavit before Telangana High Court seeking dismissal of the petition filed by N Srinivasan of India Cements company who sought to quash the ED cases registered against him in the quid-pro-quo case of Andhra Pradesh chief minister YS Jagan Mohan Reddy.
The trial court has already taken cognizance of the prosecution complaint filed by it and charges are to be framed against all the accused very soon. At present, the trial is in the stage of consideration of charges, it noted.
The ED, in its counter-affidavit, stated that the petitioner tried to project that he does not know anything regarding business association and crucial financial decisions of the company and gave evasive replies in the quid-pro-quo case.
As part of criminal conspiracy, India Cements invested Rs140.32 crore in the group of companies owned by Jagan.
In turn, India Cements got several undue benefits from the then state government headed by late YS Rajasekhara Reddy. Being company’s vice-chairman and managing director, he is responsible for criminal and fraudulent acts of his companies and as such he is guilty of offence of money laundering, it added.