The Enforcement Directorate Appellate Tribunal has given big relief to AP CM Jaganmohan Reddy. It cancelled the ED attachment of assets belonging to Jagan worth Rs. 750 crore. These assets included the Sakshmi media head office in Jubilee Hills, Mantri Bhavan in Bangalore, Lotus Pond residence, etc. The Tribunal has also given relief to industrialist Nimmagadda Prasad by cancelling the attachment of his assets worth over Rs. 300 crore.
It may be recalled that the ED attached properties of Prasad in the VANPIC quid pro quo case which was investigated by the Central Bureau of Investigation and also the ED. Prasad was arrested in Serbia yesterday and the YCP MPs are bringing pressure on the Centre for safe release and return to India.
The Tribunal has also ordered the release of property belonging to YS Bharati, wife of CM Jaganmohan Reddy. In all these cases, the Appellate Tribunal found fault with the ED for taking hasty action against the accused.
