ED attaches Indu Group properties in Jagan case

Hyderabad, Feb 9, 2015:The Hyderabad wing of the Enforcement Directorate has attached properties worth Rs. 53 Cr owned by I. Syam Prasad Reddy of Indu Group. The attachment is part of the investigation into the quid pro quo investments case against YSR Congress Party president Y.S. Jagan Mohan Reddy. 153 acres land at Mamidipally SEZ and a residential property worth Rs.3.11 Cr at Jeedimetla are attached by the Enforcement Directorate. The ED officials have also attached 100 acres belonging to SPR Projects located at Mamidipally SEZ with regard to the case. The ED took the decision to attach these properties after it concluded that Indu Group was allotted 250 acres of Government land by the then Government in lieu of investments to the tune of Rs.70 Cr it made into companies owned by Y.S. Jagan Mohan Reddy.