ED Attaches Lotus Pond & Sakshi Towers

It is known that Enforcement Directorate on Wednesday attached YS Jagan's properties worth Rs 749 crore as part of the money laundering case. With the fresh round of attachment, The total worth of properties seized by ED so far will be Rs 2,524 crore.

Enforcement Directorate attached YS Jagan's Lotus Pond residence and Sakshi Towers which is the headquarters of media house run by the Opposition Leader. Even Rs 50 crore worth buildings in Bengaluru and 903 acres of land in Guntur District were attached.

ED came to know that Jagan has become CEO of Bharati Cements inspite of not investing a single penny. Industrialist Nimmagadda Prasad offered Rs 35 crore to Jagan as part of quid-pro-quo deal and Bharati Cements was floated using this money. Later, Jagan took over Raghuram Cements and merged it with Bharati Cements. He then influenced YSR Government to sanction mining lease to Raghuram Cements.



Jagan sold 51 percent of Bharati Cements state to French Company Ms Parficim S A S for Rs 671 per share to pocket Rs 416 crore.

Interestingly, Jagan is paying a rent of Rs 10 lakh to Lotus pond residence which belongs to him. As per records, Three companies namely (Capstone Infrastructure Pvt Ltd, Utopia Infrastructure Private Ltd and Harish Infrastructure Pvt Ltd) owns Lotus Pond residence. But the truth is Jagan himself is the owner of above mentioned three firms.