|  |  | 

India Top Headlines

ED Court Summons Jagan in Land Award Case | India News

img-responsive

HYDERABAD: A special court of the Directorate of Enforcement issued a summons to Andhra Pradesh Prime Minister YS Jagan Mohan Reddy, Congressman YSR Y Vijayasai Reddy, seven directors of pharmaceutical companies – Hetero, Aurobindo and Trident Life Sciences – together with dozens of former APIIC officials who asked to appear before him on January 11 in connection with a case.
The ED case is an offshoot of the CBI quid pro quo case in which pharmaceutical companies were accused of bribing Jagan’s companies through investments instead of land allocations they obtained when his late father YS Rajasekhara Reddy was the CM in 2004-09 when the state was united. The case was recently transferred from the Nampally Metropolitan Sessions Court to the ED Special Court which dismissed the case and issued a new subpoena.
With this, the six charge sheets filed by the ED in the quid pro quo case have now reached the ED special court, which will hear all cases along with the 11 CBI charge sheets filed in the same case. It should be recalled that the IWC court was previously appointed as a special court of the Department of Education to hear cases filed under the Money Laundering Prevention Act.
The CBI case against these pharmaceutical companies was that they had entered into a criminal conspiracy with the defendants to obtain 150 acres of land in Jadcherla SEZ in Telangana instead of an investment of Rs 29 crore they made in Jagan’s media house. , Jagathi Publications. But advocates representing AP CM and the pharmaceutical companies have denied these charges, calling them politically motivated.
Although this was a case of disproportionate assets, the accusations made by the investigating agencies were disproportionate, the investigators said citing the lower value of the land that the companies obtained and the higher value of the investment they made. An ED appeals court also found strength in its argument last year and wondered why any industrialist would lose Rs 29 crore for making a profit of Rs 21 crore from the state and modified an embargo order made by ED authorities regarding Hetero, Aurobindo and Tridente.
The ED made this attachment as part of its investigation into the Jagan DA case on the charge sheet of its pharmaceutical companies. The ED presented its case based on a CBI case that said AP, when YSR was in charge, gave 75 acres of land each to Hetero and Aurobindo in Jadcherla SEZ on lease. “Instead of this profit, the companies invested in Jagan’s companies,” the CBI said.
The ED identified various properties of the pharmaceutical companies and attached assets worth Rs 51 crore. The companies subsequently challenged the action before the Delhi appeals court, which failed the action of Department of Education officials by labeling the unconnected assets of the accused companies as proceeds of crime. It allowed the aggrieved companies’ plea to unfreeze the seized assets on the condition that the amount equivalent to the value of the seized assets be deposited in the ED.

Times of India

ed-court-summons-jagan-in-land-award-case-india-news

ABOUT THE AUTHOR