ED joins Jagan’s assets case trail

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More trouble seems to be brewing for Kadapa MP Jagan Mohan Reddy, main accused in the assets case being investigated by the Central Bureau of Investigation. The Enforcement Directorate has filed a petition in the special CBI court seeking a copy of the first chargesheet filed by the CBI in the case, which the court had taken cognisance of. The ED submitted the petition in order to proceed with the probe under the Money Laundering Act.

Sources within the ED say that they filed the petition the after the first chargesheet was taken into cognisance. The court will hear the ED’s petition on Tuesday. Sources add that the court will first want to hear on what grounds the ED requires the copy of the chargesheet.

The Money Laundering Act empowers the investigating officer to attach the properties and vest the rights over the property confiscated to the Central government. The Act also invests power to arrest if the investigating officer has a reason to believe that the person is guilty under the Act. The Money Laundering Act, 2002, defines the offence thus: “Whosoever directly or indirectly attempts to indulge or knowingly assists or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime and projecting it as untainted property shall be guilty of offence of money laundering.”

Sakshi accounts to stay frozen
A special court on Monday dismissed petitions filed by Jagati Publication, Indira Television Ltd and Janani Infrastructure Ltd, owned by YSR Congress president Y.S. Jagan Mohan Reddy, challenging the action of the CBI in freezing their bank accounts. Special judge Pattabhi Rama Rao dismissed the plea on the grounds that there may be a chance of the money being misused. The court felt that whether the money is legal or illegal will be known after the trial’s completion.

Jagan prevailed on YSR for corruption
The CBI in its first chargesheet filed on March 31, said: “Jagan actively prevailed upon his father YSR to commit an offence, who in turn prevailed over B.P. Acharya, IAS, and another official of APIIC, Y.V.L. Prasad to materialise the nefarious deal of allotting the lands to Aurobindo, Hetero and Trident Life Sciences by violating the norms.” The CBI in the chargesheet has mentioned that Mr Jagan Mohan Reddy “by dishonestly concealing facts regarding the profitability and turnover of his company, solicited the investments at high premium as a bribe and as a quid pro quo from Aurobindo, Hetero and Trident Life Sciences.”