ED is for record attachment

June 03, 2013 15:30
ED is for record attachment

The Enforcement Directorate is going for a record attachment of assets in a single case.  ED is planning to attach YS Jagan's palatial houses in Hyderabad and Bangalore, the building of Sakshi, cars and other fixed and movable assets of Jagan.  Accordingly Nimmagadda Prasad's properties worth Rs.1500 crores also will be attached that makes the largest attachment ED made so far.

ED's contention is that YS Jagan built the palaces and acquired assets with the money Nimmagadda Prasad pumped into the companies of YS Jagan as a quid pro quo for the land allotted to Nimmagadda's company Vanpic by the Government under the rule of Jagan's father YS Rajasekhara Reddy.  Vanpic was allotted a land of 18878 acres for the project of Nimmagadda Prasad who made a lot of money by selling and leasing the land allotted to him.  

ED has already attached properties of Jagan worth Rs.300 crores.  Now ED with the increased pace and intensity is heading for a single largest attachment in the history of ED's operations.  For that ED is said to have engaged in getting more evidence to corroborate their theory.

When the attachments of about Rs. 900 crores as ED is planning to pin, YS Jagan's political career may become a question as it may also make him lose his credibility among public which already is in a damaged condition at present.  


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