Hyderabad, April 18, 2025 – The Enforcement Directorate (ED) has struck again in a 14-year-old money laundering probe, provisionally attaching shares worth Rs 27.5 crore linked to former Andhra Pradesh CM YS Jagan Mohan Reddy and land valued at Rs 377.2 crore owned by Dalmia Cements (Bharat) Limited (DCBL). The March 31 order, received by DCBL on April 15, targets Jagan’s stakes in Carmel Asia Holdings, Saraswati Power, and Harsha Firm, plus a 407-hectare Kadapa mining lease, per Livemint (web:12,15).
The case, rooted in 2011 CBI charges, alleges Jagan leveraged his father, then-CM YS Rajasekhara Reddy, to secure DCBL the lease as a quid pro quo for Rs 95 crore invested in Jagan’s Raghuram Cements (web:12,13). A 2013 chargesheet named Jagan, DCBL, and auditor V Vijaya Sai Reddy for corruption under IPC and Prevention of Corruption Act (web:12). DCBL, claiming the land’s value is now Rs 793.3 crore, faces scrutiny for a 2012 deal where Jagan and others sold Raghuram shares to France’s PARFICIM for Rs 135 crore (web:12).
Jagan’s YSRCP, reeling from a 2024 poll rout, calls it “vendetta” by the TDP-BJP regime (The Indian Express). “ED’s recycling old lies,” a party aide told The Hindu. Past ED attachments—Rs 749 crore in 2016, Rs 117 crore in 2018—saw Rs 746 crore released in 2019 after a tribunal flagged probe flaws (web:5,10,11). X buzzes—“Jagan’s trapped!”—but supporters cry foul: “TDP’s revenge!” (post:1). Andhra’s 5 crore voters, with 2026 polls looming, feel the heat (ECI).
The ED’s Hyderabad unit, probing since 2011, has seized Rs 2,524 crore in Jagan-linked assets over a decade (web:0). “It’s about accountability,” an ED source said (Business Standard). DCBL’s mining ops, tied to Jagan’s firms, face legal hurdles—90% of India’s 4,000 mining leases are disputed (MoEFCC). For India’s 140 crore, it’s a saga of power and probe—will Jagan dodge this, or face the noose?
