Enforcement Directorate (ED) judicial agency upheld the attachment of the properties of YSRCP President and his business partner Nimmagadda properties. 833 worth crores of properties would be attached. The ED had attached in first week of March assets worth Rs 833 crores belonging to Jagan and his associates under Prevention of Money Laundering Act (PMLA).
The case was registered in 2012 based on FIRs filed by CBI charge sheets on Jagan. Shares related to Jagathi Publications, plants and machinery valued together around 365.45 crores and 4.14 crores of Fixed Deposits are there in ED attachment. In addition to the above, 100 crores shares worth in Indira Telivision, 57 crores of assets related to Sandoor Power Company and 11 crores of YS Jagan personal properties. Nimmagadda Assets are Alpha Avenue villas also attached by ED.
ED had attached lands of VAANPIC Port Limited (561.2 acres) and VAANPIC Project Limited (855.71 acres). This is the first big anti-corruption initiative after Narendra Modi took the charge as Prime Minister. It is the biggest attachment in the history of ED. This is the first shocker to YS Jagan soon after NDA came to the power.
