The Enforcement Directorate (ED) on Thursday attached assets belonging to Dalmia Cements in connection with the alleged quid pro quo case involving YSR Congress party president and former Andhra Pradesh chief minister Y S Jagan Mohan Reddy.
According to an official release, the ED announced that assets worth Rs 793 crore belonging to Dalmia Cements have been attached.
The case pertains to 417 hectares of limestone mines in Kadapa district, which were leased to Dalmia Cements during the regime of the late Chief Minister Y S Rajasekhara Reddy (YSR).
The Central Bureau of Investigation (CBI) had earlier alleged that there were irregularities in the process of awarding the mining leases.
In 2013, the CBI filed a chargesheet stating that Dalmia Cements, in collusion with Jagan Mohan Reddy, illegally secured the limestone mining leases.
The chargesheet claimed that Jagan benefited to the tune of Rs 150 crore through these deals.
It further alleged that Rs 95 crore worth of shares were invested in Raghuram Cements, and Rs 55 crore was transferred via hawala channels by Dalmia Cements as a quid pro quo.
Based on the CBI's findings, the ED initiated a money laundering investigation and has now attached properties worth Rs 793 crore.