| Date: |
28-03-2015 |
| Subject: |
ED attaches Indu Group land in Mihan |
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Nagpur: As a part of action under prevention of money laundering act (PMLA), against YSR Congress chief Jagan Reddy, the Enforcement Directorate (ED) attached 25 acres allotted to Hyderabad-based Indu Group in Mihan-SEZ.
Indu Group is linked to Shyama Prasad Reddy, the businessman also accused in this case. According to investigations by CBI, Jagan Reddy was bribed by Shyama Prasad for alleged favours.
Sources say ED officials had sought details such as sale deed drawn between Maharashtra Airport Development Company (MADC),-- the agency developing Mihan and Indu Group.
This is for the first time that any agency has attached a property in Mihan. The company was allotted land in Mihan when retired bureaucrat RC Sinha was vice-chairman-cum-managing director of MADC. Sinha was one of the directors in Indu Group's board. He had gone on record before TOI that it was after he had joined this company that it had decided to invest in Mihan.
Indu Group was allotted land in 2008. However, since then, it has not developed the project. It was planned to bring an IT park on that site. The plot is located next to Infosys. The company was charged around 44 lakh an acre.
Earlier ED had attached properties held in the name promoters of Satyam Computer and their kin in Nagpur, which were, however, located out of the SEZ. Even Satyam's investment in Mihan had an RC Sinha connect, as he was director in its sister company Maytas.
Source : timesofindia.indiatimes.com
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