ED Gearing up to Book PMLA Case Against Jagan

ED Gearing up to Book PMLA Case Against Jagan

Publish Date:Sep 27, 2011

The Enforcement Directorate (ED) team led by dy. director N Sridhar met chief secretary S V Prasad and informed him that they are all set to file a case under the Prevention of Money Laundering Act (PMLA) against Jagan and others. According to sources, the team also took in to their possession 22 important files relating to the mining leases granted to companies floated by Kadapa MP YS Jaganmohan Reddy from the state Secretariat.

Sources said, among the files taken by ED included files related to the exemption of seigniorage fee given to VANPIC Private Limited, limestone lease in an extent of 822.13 acres in Ranga Reddy district in favour of Penna Tandoor Cement Company, change of name from Walchand Tandoor Cement company to Penna Tandoor Cement company and bauxite lease over an extent of 85 hectares in Jerella Block-1, Visakhapatnam, in favour of AP Minerals Development Corporation.

The files relating to bauxite leases to the extent of 617, 460, 113.92, 152 and 93.886 hectares in Ananthagiri, Chittamgondi and Galikonda village in Visakhapatnam district also granted to APMDC, limestone leases over an extent of 266.12 hectares in Dachepally, 145.26 hectares in Vemvaram village and 202.33 hectares in Chennayapalem village in Guntur district in favour of Saraswathi Power and Industries Private Limited were also seized by the ED.

Files pertaining to Raghuram Cements, Dalmia Cements, Eswar Cements and Bharathi Cement Corporation were among the other files taken by the ED. Sarawathi Power and Industries, Raghuram Cements, Eswar Cements and Bharati Cement companies are directly owned by Jagan. Interestingly, all the mine leases were granted in 2007-08.