The Directorate of Enforcement (ED) on Monday attached properties valued at Rs 53 crore belonging to Hyderabad-based industrialist I Syam Prasad Reddy, temporarily, in the quid pro quo investments case against YSR Congress president YS Jaganmohan Reddy and others.
The properties temporarily attached by the ED include 153-acre land at Mamidipally SEZ in Saroornagar mandal of Ranga Reddy district, 100-acre land belonging to SPR Properties at the same place and a residential property worth Rs 3.11 crore of the Walden Group at Jeedimetla here, according to official sources. The last two firms are companies under the Indu Group.
The ED’s fresh move is based on the CBI chargesheet in the Indu Tech Zone aspect of the 11 quid pro quo cases and its own investigation. The enforcement agency has concluded that Mr Syam Prasad Reddy was allotted over 250-acre land in Mamidipally SEZ in violation of norms in return for his Rs 70-crore investments in Jaganmohan Reddy’s group companies.
Based on a charge sheet filed against Syam Prasad Reddy by the Central Bureau of Investigation (CBI) way back in 2012, ED had registered a case against the Syam Prasad Reddy and Jagan Mohan Reddy among others under the Prevention of Money Laundering Act, 2002.
Earlier last month, the ED had attached properties of Jagan’s media firms.
The CBI had filed around dozen charge sheets in this case and the trial was initiated by the designated CBI court in a couple of these charge sheets late last year.
