Monday, May 27, 2024

Enforcement Directorate attaches JC Prabhakar Reddy’s assets worth Rs. 22.10 Crore

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The Enforcement Directorate (ED) has attached the assets of former TDP MLA and Tadipatri Municipal Chairman JC Prabhakar Reddy’s company along with the company of Gopal Reddy, a contractor who is a follower of JC Prabhakar Reddy.

The ED said that there were irregularities in the registrations of BS-4 vehicles. The assets of the company related to Diwakar Roadlines, Jhatadhara Industries, and C. Gopal Reddy and Co.have been confiscated. The ED revealed that assets worth Rs.22.10 crores have been attached and stated that the registrations of BS-4 vehicles were done contrary to the orders of the Supreme Court.

It said Jatdhara Industries has purchased BS-4 vehicles from Ashok Leyland at a low price and carried out registrations with fake certificates in AP, Karnataka, and Nagaland. The ED officials said that illegal purchase and sale transactions of Rs.38.36 crores have also been detected and asserted that the investigation into the role of Ashok Leyland is continuing.

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