Hyderabad, April 18: While probing a case of Money Laundering, the Enforcement Directorate(ED) on Friday attached assets worth 27.5 crore belonging to former Chief Minister, Andhra Pradesh YS Jagan Mohan Reddy.
The Enforcement Directorate (ED) has also attached assets worth more than Rs 793.3 crore of Dalmia Cements (Bharat) Limited (DCBL) in connection with a money laundering investigation.
Dalmia Cements informed SEBI that they received the attachment order on April 15, 2025.
This action was taken in a money laundering case related to quid pro quo investments. This case is related to a case registered by the CBI in 2011, in which DCBL had invested in Bharti Cement Corporation Private Limited.
According to ED, this investment was made in Reddy's companies in the form of a payment of Rs 95 crore, in exchange for which a mining lease of 407 hectares in Kadapa district was alloted to DCBL.
ED and CBI alleged that under an agreement between DCBL and Reddy, shares of Raghuram Cements Limited were sold to the French company PARFICIM for Rs 135 crore.
Out of which Rs 55 crore was given to Reddy in cash through hawala.
The CBI had filed a chargesheet against Reddy and other accused under sections of the Prevention of Corruption Act and the IPC on April 8, 2013.
The ED’s probe says that there was a deal to transfer at least Rs 139 crore to Reddy's companies through hawala channels. Out of which, payment of Rs 55 crore had already been cleared.
