ED’s attachment of Jagathi properties endorsed

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jagan-EDNew Delhi: The Adjudicating Authority affiliated to the Enforcement Directorate (ED) has endorsed the attachment of properties by the ED in the YS Jagan’s disproportionate assets case.

The Authority’s order in this particualr case referes to the transactions between Jagathi Publications and three other individuals including A.K. Dandamudi and Madhav Ramachandran.

The ED had attached Jagathi’s properties worth Rs 34.65 crores on May 31 this year. Following this, YS Jagan’s lawyers appealed to the Adjudicating Authoritty of the ED and the attachment was approved by the Authority today. While approving the attachment of properties, the Adjudicating Authority has observed that the ED has proved the misuse of power in the transaction   and has provided documentary evidence on misrepresentation of accounts by Jagathi Publications.

The ED has attached different properties in three tranches so far and the combined value of the attachments so far has been put at more than Rs 230 crore.