In its latest action in the money laundering case against the YSR Congress president and MP YS Jaganmohan Reddy, the Central agency Enforcement Directorate has attached immovable assets worth `7.85 crore on Thursday.
The orders for attaching the assets of Ms Penna Cement Industries and Ms Pioneer Holiday Resorts limited were issued under the Prevention of Money laundering Act. The assets include pieces of land in Anantapur district of Andhra Pradesh and a hotel in Hyderabad.
The orders of ED said that the two companies have received undue favors from the then Government of Andhra Pradesh during the regime of YS Rajasekhar Reddy in the form of alienation of Government land, grant of prospecting license for limestone, renewal of mining lease for limestone, permission for the construction of hotel and relaxations as against quid pro quo investments in the group companies of YS Jaganmohan Reddy.