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CBI gets nod to attach Jagan property

The Time Of India
CBI gets nod to attach Jagan property - CBI - India


HYDERABAD: The Andhra Pradesh government on Friday evening issued government orders allowing the CBI to prohibit sale, pledge and transfer of ownership of properties belonging to Jagan and his associates. These include Jagati Publications (Sakshi newspaper), Indira TV (Sakshi TV), Janani Infrastructure, belonging to YSR Congress president Jaganmohan Reddy, properties owned by N Sunil Reddy and Koneru Rajendra Prasad, accused in the Emaar scam.



The government orders, numbering 87, 88 and 89, were not made public but were issued after chief minister Kiran Kumar Reddy gave clearance.

The orders were in response to CBI seeking permission to attach properties in the Jagan assets case of which it has conclusive evidence of being part of a quid pro quo arrangement. CBI estimates about Rs 1,172 crore quid pro quo investment in Jagati Publications. CBI valued the publication's office and machinery at Rs 243.64 crore.

CBI can now file petitions in district courts seeking permission to attach the properties. The court will then call the investigating agency and the accused and after hearing them, will decide the matter.

If the court rules in favour of the attachment, it can also appoint an administrator to oversee the process. However, if the property attached is a business establishment like Sakshi, its working would not be affected but all its transactions would be recorded and certain restrictions imposed on it, sources said.


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