The Enforcement Directorate(ED)Attaches Rs 863 Crore Properties of YSR Congress leader Jaganmohan Reddy and his associates on Wednesday March 05,2014 in connection with its probe into alleged corruption in an infrastructure project in Andhra Pradesh.
The Enforcement Directorate(ED)slapped separate notices against Jagan and Nimmagada Prasad whose companies were allegedly favoured by the then AP government (when Jagan's father YS Rajasekhara Reddy was chief minister) in the Vadarevu and Nizampatnam Industrial Corridor (VANPIC) project whose aim was to develop sea ports and a green field airport in coastal areas of the southern state and industrial corridors in Prakasam and Guntur districts.
The ED had in 2012 registered a criminal probe under the Prevention of Money Laundering Act (PMLA) against the individuals and associated firms based on a CBI FIR in this case.
The Enforcement Directorate(ED) probe said there was 'quid pro quo' in this deal and hence illegal money exchanged hands
The Enforcement Directorate(ED)slapped separate notices against Jagan and Nimmagada Prasad whose companies were allegedly favoured by the then AP government (when Jagan's father YS Rajasekhara Reddy was chief minister) in the Vadarevu and Nizampatnam Industrial Corridor (VANPIC) project whose aim was to develop sea ports and a green field airport in coastal areas of the southern state and industrial corridors in Prakasam and Guntur districts.
The ED had in 2012 registered a criminal probe under the Prevention of Money Laundering Act (PMLA) against the individuals and associated firms based on a CBI FIR in this case.
The Enforcement Directorate(ED) probe said there was 'quid pro quo' in this deal and hence illegal money exchanged hands
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