ED Seeks Daily Hearings in Money Laundering Cases Against Jagan Mohan Reddy

Hyderabad, October 10 (Daily Kiran) : The Enforcement Directorate (ED) has approached the Telangana High Court, citing Article 21 of the Constitution, to demand expedited hearings in money laundering cases against former Chief Minister Y.S. Jagan Mohan Reddy and other accused individuals. An official disclosed this information on Saturday.

According to the official, the ED’s petition, filed on September 23, requests the personal appearance of Jagan Mohan Reddy, who is also the president of the YSR Congress Party, along with other accused. These charges have been filed under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

The ED has urged the High Court to ensure that the criminal justice system operates with appropriate speed in these proceedings. They noted that the case against Jagan Mohan Reddy has been pending for nearly a decade, indicating a lack of timely progress in the legal process.

In its petition, the ED emphasized the need for prompt daily hearings and trials for the charges and applications for discharge. The investigation pertains to large corporate entities and individuals accused of providing government benefits to Jagan Mohan Reddy and his family members in exchange for substantial investments in their companies. These investments were allegedly made during his tenure as Chief Minister of Andhra Pradesh.

The ED’s investigation was initiated based on an FIR filed by the Central Bureau of Investigation (CBI) at the direction of the Andhra Pradesh High Court against Jagan Mohan Reddy and others.

The inquiry revealed that companies like Aurobindo Pharma, Hetero Drugs, Indu Projects, and several others have made significant investments in firms linked to Jagan Mohan Reddy and his family by purchasing large amounts of shares in companies such as Bharati Cement Corporation and Jagati Publications.

Since 2016, the ED has filed nine charge sheets against Jagan Mohan Reddy and others in a special CBI court located in Nampally, Hyderabad.

The ED stated, “All nine charge sheets have been acknowledged, and the cases are pending for hearing on discharge applications. The delay in addressing these applications has stalled the progress of the charge sheets.”

Despite considerable time passing since the charge sheets were acknowledged, there has been minimal advancement in proceedings before the special CBI court. Although hearings on discharge applications have been conducted, decisions have yet to be made due to the transfer of presiding officers and other factors.

Considering the seriousness of the matter, the Supreme Court previously remarked in a criminal appeal involving Jagan Mohan Reddy that economic crimes require a distinct approach due to their complexity and the significant loss of public funds involved. The Court underscored the need for serious attention to such crimes, which not only impact the economy but also pose a grave threat to the nation’s financial health.