Enforcement Directorate had issued a Public Notice stating it has all rights to take the possession of Jagan‘s Lotus Pond Residence. The Lotus Pond Residence will be at the disposal of the Enforcement Directorate until further order and the properties shall be kept intact by all the concerned for the further proceedings under the PMLA.
Since the notice for possession is served, 10 days time will be given for Jagan to respond. Jagan and his family resides in Lotus Pond and it is also the headquarters of YSR Congress after the results of 2014 elections. On the other side, Jagan is gearing up to approach the high court to get a stay on ED taking the possession.
Once the Lotus Pond Residence is taken into ED possession, ED prohibits and restricts until further order transferring or charging in any manner and it is prohibited to receive the properties by purchase gift, mortgage, pledge or any other means.
