Hyderabad : ED has given yet another shock to Jagan by giving orders to attachment in the fraudulent assets case of Jagan.
Online PR News – 01-June-2013 – hyderabad – Hyderabad Today’s News: ED has given yet another shock to Jagan by giving orders to attachment in the fraudulent assets case of Jagan. ED has attached almost 34.66 crores of fixed deposits of Jagathi publications belonging to Jagan at the OBC, Jubilee hills branch. With this ED has attached a total of 229.4 crores worth of Jagan's assets till date. Till date ED has attached the properties of Jagan three times with one asset at every attachment.
The first worth 51 crores, second of 143 crores and the latest and third worth 34.66 crores of assets. ED has confirmed that AK Dandamudi, TR Kannan, Madhava and Ramachandra have committed offense by cheating. News coming in is that ED would be attaching almost 800 to 1000 crores worth properties on the occasion of filing the Fourth chargesheet. ED is been dashing up with the enquiry it has started based on the chargesheets filed by CBI in the Court. It is coming to know that ED is attached the properties today basing on these.
The Administration Directorate (ED) nowadays froze set remains value more than Rs 34 crore of a press company possessed by locked up YSR The legislature innovator Jaganmohan Reddy in relationship with the cash washing sensor / probe against him and others. With this 4th relationship purchase, the organization has connected more than Rs 300 crore values of resources and qualities that belong to Jagan and others in the extraordinary resources situation being probed together by the ED and CBI.
The set remains with a complete value of Rs 34.66 crore, which have been known as in the transaction as "proceeds of crime", are in the Jubilee Mountain division of Asian Financial institution of Business in Hyderabad in the name of Jagati Guides Restricted, a company possessed by the Participant of Parliament (MP) from Kadapa in Andhra Pradesh.
An ED relationship, under the legal conditions of the Avoidance of Money Laundering Act (PMLA), is an activity intended to deny the charge of qualities procured out of unlawful indicates or through continues of legal activity. The purchase, smacked by the analyzing official of the situation, can be pushed at the Appellate power of PMLA within 180 days of issuance.
As per modern purchase, the ED recognized the connected FDs as "proceeds of crime". "The research under PMLA has exposed that transaction of resources by A K Dandamudi, T R Kannan and Madhav Ramchandra amassing Rs 34.66 crore to M/s Jagati Book Ltd, by choosing offenses dedicated under legal fringe movement and unfaithful among others is continues of legal activity and left with Asian Financial institution of Business by M/s Jagati Book Ltd," the ED said in its purchase.
Few other identical relationship purchases, under cash washing regulations and in accordance with the CBI FIR authorized in this situation, will also be released soon, resources said. The organization has previously released three individual relationship purchases of Rs 51 crore, Rs 71 crore and Rs 143.74 crore in this situation. Jagan has been in prison for a year now and the Superior Judge lately refused his help request in the extraordinary resources situation being probed by the two organizations.
In yet another strike to Kadapa Participant of Parliament Y.S. Jaganmohan Reddy, who is in legal legal care in the situation of quid pro quo investment strategies in his organizations for over a season now, the Directorate of Administration (ED) on Saturday connected set remains value Rs.34.66 crore that belong to Jagati Guides Ltd.
Deposits relaxing with OBC.
The connection was created under Area 5 (1) of the Avoidance of Cash Washing Act (PMLA). The connected set remains were relaxing with the Jubilee Mountains division of Asian Financial institution of Business (OBC) in Hyderabad. The ED said its research under PMLA had exposed inter alia that transaction of resources by A.K. Dandamudi, T.R. Kannan and Madhav Ramachandra adding up to to Rs.34.66 crore to Jagati Guides Ltd., was done by choosing offenses with legal fringe movement and unfaithful. The quantity was continues of legal activity and was left with OBC by Jagati Guides, the enforcement organization said in a media declaration released in New Delhi.
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