North India Statesman
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Hyderabad: The Enforcement Directorate (ED) has attached shares worth Rs 27.5 crore from former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy in the 14 -year -old money laundering case and the land worth Rs 377.2 crore of Dalmia Cements (India) Limited (DCBL). However, DCBL has claimed that the value of the acquired land is Rs 793.3 crore.
The ED has seized shares of three companies of Jagan Reddy. These three companies include Carmel Asia Holdings Limited, Saraswati Power and Industries Private Limited and Harsha firm.
The CBI registered the case in 2011. Based on this FIR of the CBI, the ED registered a case of money laundering. It has been alleged that Dalmia Cement invested in Bharti Cement Corporation Private Limited, which is affiliated to Jagan Reddy.
According to the ED, DCBL invested Rs 95 crore in Raghuram Cement Limited. Which was represented by Jagan Reddy. In return, Jagan allegedly provided a mining lease of 407 hectares of land in Kadappa district to DCBL using the influence of his father and then Chief Minister YS Rajasekhar Reddy.
It is noteworthy that in 2013, the CBI filed a charge sheet under various sections of the Indian Penal Code and the Prevention of Corruption Act, including the names of Jagan Reddy, DCBL and others. This case is also related to the transfer of mining lease from Swar Cement to DCBL.
According to the ED and CBI, YS Jagan Reddy, former MP V Vijaya Sai Reddy and DCBL’s Puneet Dalmia were sold to a French company Parasifim for Rs 135 crore as part of Raghuram Cement Limited shares. Out of this, Jagan was given cash through hawala between May 2010 and June 2011. Evidence of this payment was found in the material seized by the Income Tax Department at Delhi.
