ED attaches land worth ₹ 149 crore 'illegally allotted' by Jagan

[Tadika]

The Enforcement Directorate (ED) on Friday attached over 11,804 acres, worth about ₹149 crore in Prakasam and Guntur districts of Andhra Pradesh that were “illegally” allotted to companies of Nimmagadda Prasad allegedly by Y.S. Jagan Mohan Reddy.

“This is a quid pro quo investment case where Mr. Prasad, various companies and individuals made huge investments in companies floated by Mr. Reddy for favours received from the erstwhile Andhra Pradesh government in the form of land allotments for development of port and industrial corridor, besides exemption under the Urban Land (Ceiling & Regulation) Act,” according to the ED.

The alleged favours were given when Mr. Reddy’s father, the late Y.S. Rajasekhara Reddy, was the Andhra Pradesh Chief Minister.

Based on a CBI charge sheet, the ED launched a probe under the Prevention of Money Laundering Act and found that Mr. Prasad allegedly paid bribes to Mr. Reddy in the form of investments totalling about Rs.779.50 crore in the latter’s companies, Jagati Publications Limited, Carmel Asia Holdings Private Limited, Bharathi Cement Corporation Private Limited and M/s Silicon Builders Private Limited.

This apart, the ED alleges, he also paid Rs.57 crore to Mr. Reddy on the pretext of secondary purchase of shares and donation of Rs.7 crore to the YSR Foundation. In lieu of the alleged bribes, Mr. Prasad was “illegally” awarded the project for the development of the Vadarevu-Nizampatnam Port and Industrial Corridor by allegedly deviating from all standard norms and without even examining the technical or financial capabilities.

Mr. Prasad got orders for allotment of land to the extent of more than 18,700 acres in the name of his goup company, Vanpic Projects Private Limited, which allegedly had no responsibility for project development. Mr. Prasad’s companies started payments to farmers and the departments even before the issuance of government orders for land allotments. Considerations were paid for 13,220 acres, according to the ED.

In the same case, the ED attached assets worth Rs.538.31 crore of Mr. Reddy and his companies and Rs.325.02 crore worth assets of Mr. Prasad and his companies, including 1,416 acres of land from Vanpic Projects Private Limited & Vanpic Ports Private Limited.

[TheBrahmabull]

49 minutes ago, Tadika said:

The Enforcement Directorate (ED) on Friday attached over 11,804 acres, worth about ₹149 crore in Prakasam and Guntur districts of Andhra Pradesh that were “illegally” allotted to companies of Nimmagadda Prasad allegedly by Y.S. Jagan Mohan Reddy.

“This is a quid pro quo investment case where Mr. Prasad, various companies and individuals made huge investments in companies floated by Mr. Reddy for favours received from the erstwhile Andhra Pradesh government in the form of land allotments for development of port and industrial corridor, besides exemption under the Urban Land (Ceiling & Regulation) Act,” according to the ED.

The alleged favours were given when Mr. Reddy’s father, the late Y.S. Rajasekhara Reddy, was the Andhra Pradesh Chief Minister.

Based on a CBI charge sheet, the ED launched a probe under the Prevention of Money Laundering Act and found that Mr. Prasad allegedly paid bribes to Mr. Reddy in the form of investments totalling about Rs.779.50 crore in the latter’s companies, Jagati Publications Limited, Carmel Asia Holdings Private Limited, Bharathi Cement Corporation Private Limited and M/s Silicon Builders Private Limited.

This apart, the ED alleges, he also paid Rs.57 crore to Mr. Reddy on the pretext of secondary purchase of shares and donation of Rs.7 crore to the YSR Foundation. In lieu of the alleged bribes, Mr. Prasad was “illegally” awarded the project for the development of the Vadarevu-Nizampatnam Port and Industrial Corridor by allegedly deviating from all standard norms and without even examining the technical or financial capabilities.

Mr. Prasad got orders for allotment of land to the extent of more than 18,700 acres in the name of his goup company, Vanpic Projects Private Limited, which allegedly had no responsibility for project development. Mr. Prasad’s companies started payments to farmers and the departments even before the issuance of government orders for land allotments. Considerations were paid for 13,220 acres, according to the ED.

In the same case, the ED attached assets worth Rs.538.31 crore of Mr. Reddy and his companies and Rs.325.02 crore worth assets of Mr. Prasad and his companies, including 1,416 acres of land from Vanpic Projects Private Limited & Vanpic Ports Private Limited.

magodilaa cases face chesthadu yuvametha .. enni kavalante anni cases pettandi.

[JANASENA]

[Piracy Raja]

[Heroin]

[Tadika]

Enti antha oke smiley using veredhi work avvatle

[Idassamed]

Jagananna

[Hitman]

VANPIC - RIP. ee project ni tokki parestunnaru ga.. maa dist lo unna oke okka asha... ee project.. ee project kosamaina Jai Jagan anali.. ee sari..

[Tadika]

10 minutes ago, Hitman said:

VANPIC - RIP. ee project ni tokki parestunnaru ga.. maa dist lo unna oke okka asha... ee project.. ee project kosamaina Jai Jagan anali.. ee sari..

Project matiki okkate ba mana dist motthaniki 

[Tadika]

YSR undunte thinna kani pani ayyedhi

[Hitman]

2 minutes ago, Tadika said:

YSR undunte thinna kani pani ayyedhi

Pani start ayyedi.. complete ayina kakapoyina...

[Tadika]

1 minute ago, Hitman said:

Pani start ayyedi.. complete ayina kakapoyina...

Yes ba 

Locals ki work n villages ki roads anna vavhundevi start ayyunte 

[psycopk]

sakshi lo vachina... vaste ne jaffas nammutaru..

[Tadika]

Aamanchi gadu hundred of acres konnadu 

VANPIC ki sambandhinchinavi

[Tadika]

Just now, psycopk said:

sakshi lo vachina... vaste ne jaffas nammutaru..

Saxi lo ilanti news ravuga, aythe nammarannamata