ED Targets Jagan Reddy, Seizes Rs 800 Crore in Shares and Land After 14 Years

The Enforcement Directorate has seized assets worth ₹793 crore belonging to Dalmia Cements (Bharat) Ltd, linked to ex-Andhra CM Y.S. Jagan Mohan Reddy. Among the seized assets are shares estimated at ₹27.5 crore and land worth ₹377.2 crore. This move is a part of an extensive money laundering investigation that was first launched by the Central Bureau of Investigation (CBI) back in 2011.

Investment and Alleged Political Influence

The case focuses on DCBL’s financial investment in Bharathi Cement Corporation Private Limited, a company under the control of Jagan Mohan Reddy. ED has also attached shares held in companies closely linked to Jagan’s business network, including Carmel Asia Holdings Limited, Saraswati Power and Industries Private Limited, and Harsha Firm. These firms are believed to be integral to his corporate empire.

₹95 Crore Investment in Raghuram Cements

According to the Enforcement Directorate (ED), DCBL invested ₹95 crore in Raghuram Cements Limited, which was reportedly under the control of Jagan Mohan Reddy at the time. 

French Company Involved in Share Deal

Investigative agencies claim that a deal was struck between Jagan Mohan Reddy, former MP V. Vijaya Sai Reddy, and DCBL’s Punit Dalmia, under which shares of Raghuram Cements were sold to French company PARFICIM for ₹135 crore. 

Attachment Order Delivered in April

This move represents a significant development in the long-running investigation and highlights the authorities’ intensified focus on tackling financial misconduct at high levels. The outcome of the probe may carry serious legal and financial consequences for Jagan Mohan Reddy and his affiliated companies.