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'Power' relieves Jagan from courts, CBI and ED cases!

'Power' relieves Jagan from courts, CBI and ED cases!

After YS Jagan Mohan Reddy became Chief Minister of Andhra Pradesh in May, he is heaving a sigh of relief from courts, CBI and ED cases booked against him in disproportionate assets case.

Prior to Jagan becoming CM, he had to appear before CBI Court in Nampally, Hyderabad every Friday, to face trial.

Similarly, CBI and ED used to file series of chargesheets in courts. They also used to attach Jagan’s properties worth crores of rupees and seize his bank accounts.

But the scene has now been completely reversed during the last two months after Jagan became CM.

Jagan is not attending “Friday Court” anymore. There is no ‘official communication’ from anyone over who gave Jagan exemption from attending court as it was done ‘secretly’.  The other accused in these cases are attending the court regularly.

Now the latest development is that even the Enforcement Directorate (ED) is issuing ‘favourable orders’ for Jagan and his group companies in disproportionate case.

Going by the development, it appears that all the CBI and ED cases would soon be closed against Jagan and his group companies.

In a huge relief to Bharati Cements, owned by Jagan’s wife YS Bharathi, an ED appellate tribunal under Prevention of money laundering Act has freed several of the company’s properties and deposits worth Rs 790 crore from the attachments made by Enforcement Directorate on Monday.

Justice Manmohan Singh, the chairman of the tribunal, however, asked the company to furnish bank guarantee for getting its Rs 192 crore cash deposits released.

The attachments were made five years ago by ED after the CBI booked FIR against then MP YS Jaganmohan Reddy, and charged him with acquiring disproportionate assets during his late father Dr YS Rajasekhara Reddy’s tenure as chief minister of Undivided AP.

The tribunal, in its order, said that it found no force in the allegation that there is royalty loss to the exchequer on account of grant of mining lease to Bharati cements.

The tribunal also raised doubts about the CBI allegations that all those who invested in Jagan firms like Bharati cements have done as per a quid pro quo arrangement.



Tags: Jagan CBI ED