Hyderabad: The Enforcement Directorate on Thursday attached assets of real estate and infrastructure company Indu Group owned by industrialist Indukuri Shyam Prasad Reddy in the YS Jagan Mohan Reddy disproportionate assets case.

ED has provisionally attached Rs 130 crore worth of properties including lands of Lepakshi in Ananatapur.

Last month, ED had attached Rs 53 crore worth of properties belonging to Indukuri Shyam Prasad Reddy in YS Jagan quid pro quo investments case.

In the new development in the case, around 8648 acres of land in Anantapur worth Rs 113 crore and other properties of the group have been attached.

It is alleged that Shyam Prasad Reddy got loans against the government allotted land and used the same to clear debts.

Properties attached -

- 8648.81 acre of land in Chilamathur and Gorantla mandals of Anantapur district owned by Lepakshi Knowledge Hub, Lepkashi Integrated Textile Park, Lepakshi Science and Technology Park and Lepakshi Heritage Wellness village worth Rs 113.65 crore

- 25 acre of land in Hingana in Nagpur, Maharasthra owned by Asara Realty ventures worth Rs 1.1 crore

- 2.57 acre of land owned by Cyberabad Hitech Integrated township development corporation worth Rs 3.85 crore

- Rs 64 lakh receivable amount from Greenport Agro Food Park of Lepakshi Knowledge Hub

- Rs 37 lakh amount receivable from Zen skillproc for Lepakshi

ED Joint Director, K S V V Prasad said, “Investigations under Prevention of Money Laundering Act revealed that Shyam Prasad Reddy obtained bank loans against the lands allotted by Andhra Pradesh Industrial Infrastructure Corporation Limited and utilised the funds for other purposes such as clearing old debts and diverting funds for activities of his companies,”

Prasad said, “During investigation the proceeds of crime were identified in the form of movable and immovable properties. Three immovable properties valued at Rs 128.5 crore and two movable properties valued Rs 1 crore were provisionally attached.”

CBI has filed a chargesheet against YS Jagan Mohan Reddy, Indu Projects MD Shyam Prasad Reddy, alleging that the latter paid bribe to Jagan in the guise of investments in group companies of the YSR Congress leader through the companies of industrialist Nimmagada Prasad as quid-pro-quo for undue favours received by his companies from Andhra Pradesh government.

On September 17, 2013 the CBI had filed a charge sheet against Jagan and others related to the allotment 8,844 acres to LKH and investments thereof as quid-pro-quo to the tune of Rs 50 crore in Jagati Publications, which is owned by Jagan, Prasad said.

While Jagan is named as accused number one, his auditor V Vijay Sai Reddy is also listed as accused, along with Syam Prasad Reddy, promoter of Hyderabad-based group of companies called Indu Group, besides some former ministers and some senior IAS officers.

The agency had filed 11 charge sheets in connection with the case, which pertain to alleged investments made by various private firms and individuals to the tune of several crores in AP Leader of Opposition Jaganmohan Reddy's businesses, as part of quid-pro-quo arrangement in exchange for alleged favours by erstwhile YSR Rajasekhar Reddy (YSR) government.