Attachment of Jagan properties

The Government has given its approval to attach the properties of Sakshi group in the disproportionate case against Jagan Mohan Reddy. The CBI which has freezed the bank accounts of Jagati Publications, Indira Television and realty firm Janani Infrastructure has written to the Government today seeking its approval to attach their properties.

The files were signed by home minister P Sabita Indra Reddy and chief minister N Kiran Kumar Reddy late on Wednesday night following a letter written by the CBI authorities three days ago. And the approval came in the morning after taking the legal opinion. The relevant GOs would be issued any time.

As per the orders, the management of these three companies can do their normal business, but would not be able to do any transactions on their properties: they can neither sell nor mortgage the properties. They cannot obtain loans nor can they induct any other partner in these companies. As the bank accounts are already frozen, there would be no flow of funds into their major accounts.

The CBI has alleged that the ill-gotten funds received from various companies as a quid pro quo gesture during the regime of YSR were invested in these companies. Along with the Sakshi media, the Government has also given its approval to attach the properties of Sunil Reddy and Koneru Prasad who are suspects in the Emaar case.