why-ed-transferred-jagan-money-to-its-accountsEnforcement Directorate (ED) had transferred 170 Crore of money and Fixed Deposits belonging to Jagan Mohan Reddy’s Bharathi Cements to its account the other day. This 170 Crore is the part of the total 2524 Crore worth money and assets attached by ED previously.

Attached Money and Properties usually stay in the accounts of the accused but can not be transferred or used. But they can be taken into ED accounts if the agency suspects trying to launder the money somehow or the accused fleeing the country. Right on this allegation, the 170 Crore were transferred.

Jagan is reportedly stunned by this action of ED and has approached the court over this. His counsel will argue before the court that Jagan will not leave the country at any cost. It has to be seen what ED says in its favour on this issue.

More than this 170 Crore, Jagan will be more worried about the remaining attached assets. If ED follows the same for all of them, life will become extremely tough for him. The attached assets also include Jagan’s residence, Lotus Pond and his Sakshi Media house which are the centers of YSR Congress Politics.