Nimmagadda arrested by Serbia cops?

[boeing747]

 

By Srinivas On Updated: July 30 , 2019 12:59 IST

 

Noted industrialist Nimmagadda Prasad has been arrested by the police in Serbia, a European country, where he had gone for holidaying.

Though he was taken into custody two days ago, it came to light only on Tuesday with one of his friends alerting YSR Congress party leaders in Amaravati.

According to reports, Nimmagadda was arrested by the police following a complaint from the officials of the UAE-based industrial giant Ras Al Khaima in connection with a dispute over shareholding issues in VANPIC (Vadarevu And Nizampatnam Port Industrial Corridor), an industrial corridor coming up between Guntur and Prakasam districts.

It is learnt Prasad is presently being interrogated by the cops in Belgrade on the VANPIC case.

Sources said some YSRC MPs closer to Nimmagadda have started efforts to get him released and bring him back to India.

They reportedly wrote a letter to Union foreign affairs minister Jaishankar to hold negotiations with the Serbian government to secure the release of Nimmagadda.

The industrialist has closer relations with YSRC president and chief minister Y S Jagan Mohan Reddy and had been named in the quid pro quo cases involving the chief minister in the past.

The ED had attacked 11,804 acres of land belonging to VANPIC two years ago, in connection with the Jagan’s quid pro quo case.

 

[aakathaai]

Indhaaka mana whatsapp group lo nen cheppaa kada baa

[boeing747]

Endayya ee ghoram...maa mahametha friends ni ila arrest chesyatam endi.. veedu A3 anta, mari A1 and A2 evaru ee case lo

[boeing747]

Just now, aakathaai said:

Indhaaka mana whatsapp group lo nen cheppaa kada baa

Endi baa idi..bjp witchhunting aa

[aakathaai]

Just now, boeing747 said:

Endi baa idi..bjp witchhunting aa

Yes eedu state lo centre lo antha manadhe anukuni bhrama padi trap lo paddaadu

[mike123]

YS Jagan Mohan Reddy gets reprieve in money laundering case after PMLA orders ED to release attached assets

New Delhi: In a major setback for the Enforcement Directorate (ED), the Appellate Tribunal for Prevention of Money Laundering Act (PMLA) has directed to release the assets of Andhra Pradesh Chief Minister YS Jagan Mohan Reddy and his wife YS Bharathi Reddy that was attached by the agency in a money laundering case. Pointing out serious loopholes in ED's probe and subsequent move to attach the properties, tribunal indicated the action was taken in haste and without due diligence.

The relief to Jagan came two months after he took over as Andhra Pradesh chief minister. The attachment totalling to Rs 746 crore included Rs 569 crore of Jagan and group, Rs 22.31 crore of YS Bharathi Reddy and Rs 154 crore of Bharathi Cements Corporation Private Limited (BCCL). The tribunal questioned the ED move to attach bonafide business transactions of Jagan against which had paid capital gain tax. It also mentioned serious lacunae on ED's part to attach salary amount earned by Jagan's wife terming it as proceeds of crime.

The ED had alleged that Rs 416.20 crore was realised by Jagan from the sale of his shares in BCCL to PARFICIM SAS, France and the same is proceeds of crime. The tribunal observed that investigation showed that it was a genuine business transaction and profit made from selling the shares cannot be treated as proceeds of crime unless the original investment was a bribe amount.

"It is alleged that the Rs 416.20 crores received by YS Jagan Mohan Reddy was utilised for various purposes including purchasing of shares of other companies, investment in form of Share Application Money, clearing of bank loans, donation and payment of taxes. As far as above-mentioned amount received by him by selling of shares to M/s. Parficim SAS, France at the rate of Rs 671.20 is concerned, it is admitted by the respondent (ED) that the said money paid by French Company is not the tainted amount,” the tribunal said.

 

In case of Jagan's wife, the tribunal said the allegations of the salaries being improperly drawn by her also stand contradicted by the admitted circumstance that BCCL is now controlled in majority by PARFICIM SAS, France, a multinational company.

The tribunal said income derived by a person working in a post can never be, therefore, termed as proceeds of crime and Bharathi Reddy has been serving the company as its director and chairperson and that the company has been generating surplus and profits to the satisfaction of the shareholders.

“The said fact is not denied on behalf of respondent (ED). The fact that the investments made into BCCL by the foreign shareholder and the manner of functioning of BCCL has not been the subject of any enquiry would disclose that there can be no criminality imputed to the functioning of Mrs. Y.S. Bharati Reddy as chairperson and being paid remuneration. No allegations of any such appointment and remuneration paid to Mrs. Y.S. Bharathi Reddy being wrongful have therefore been raised either by the CBI in their investigation nor has been the subject matter of any issue in the enquiry/proceedings under the IT Act initiated by Income Tax Department, which have been substantially relied upon by the CBI and the respondents herein,” the tribunal order noted.

The ED officials, the tribunal said, also undervalued immovable assets in a bid to attach the maximum number of properties and flagged cases of double attachments regarding Sandur Power, Classic Reality and Saraswati Power in the case. The order also pointed out that despite several changes in political dispensation in the state of Andhra Pradesh since September 2009 no attempts have been made either to cancel the mining lease granted in favour of related company or to satisfy the inquiry report submitted by a former judge of Andhra High Court rather licensing fee has been accepted without any protest.

The tribunal directed that one attachment of Rs 192 crore should be released on the condition of submission of bank guarantee of a similar amount in favour of ED till the time final orders are passed in the matter. The other attachments should also be released, the tribunal said.

“As far as allegations of CBI are concerned, this tribunal does not wish to express any opinion on merit and the same have to be considered as per law. The present order has been passed only for the purpose of attachment of properties and confirmation thereof. It is clarified that this order shall have no bearing in any other proceedings in pending matters against the appellants. This order has been passed as per its own merit with regard to attachment of properties," the tribunal order further said.

Updated Date: Jul 30, 2019 15:36:20 IST

[Assam_Bhayya]

ekkado Serbia lo trace chesi akkada govt tho co-ordinate chesi eppudooo old case thodi maree arrest cheyinchina bj gallu, Nirav bodi, Mehul , Mallayya gallanu tough cheyaniyyaru, they looted public money directly. veedo edo scam lo involved, endo emo love da lodhi