ED seeks speedy trial in money laundering cases against Jagan Mohan Reddy

The ED has asked the Telangana High Court to order a speedy day-to-day hearing in PMLA complaints against Y S Jagan Mohan Reddy and others. The agency said pending discharge petitions and years of delay have stalled progress in the case.Former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy. (File photo: ITG)The Enforcement Directorate (ED) has approached the Telangana High Court seeking a speedy, day-to-day trial in prosecution complaints filed against former Andhra Pradesh Chief Minister and YSR Congress president Y S Jagan Mohan Reddy and others under the Prevention of Money Laundering Act (PMLA).The agency has also sought the personal appearance of all the accused during the proceedings, saying the cases have remained pending before the Special Court for CBI cases for nearly a decade without significant progress.The ED investigation originated from an FIR registered by the Central Bureau of Investigation (CBI) against Jagan and 73 others in connection with investments made in companies linked to him and his family. The investigation examined claims of government favours extended to large corporate entities and individuals during the tenure of Jagan's father, late Y S Rajasekhara Reddy, who was Andhra Pradesh chief minister.According to the ED, these favours were linked to investments made in companies associated with Jagan and his family members. The agency has claimed that several companies and individuals subscribed to shares in firms linked to Jagan at prices substantially higher than their perceived value as part of the arrangement. The ED filed nine prosecution complaints against Jagan and others before the Special Court for CBI cases between 2016 and 2021. The court has taken cognizance of all nine complaints, but proceedings have remained at the preliminary stage as discharge petitions filed by the accused are pending.The agency said the prolonged pendency of the discharge petitions has delayed further proceedings in the cases. According to the ED, the petitions were heard by the Special Court but could not be decided for various reasons, including the transfer of presiding officers. The agency said there had been no significant progress in the proceedings despite considerable time having passed since cognizance was taken.ED INVOKES RIGHT TO SPEEDY TRIALThe ED said it approached the Telangana High Court on September 23, invoking the right to a speedy trial under Article 21 of the Constitution. It has sought directions to ensure that the proceedings are conducted within a reasonable timeframe.The agency said the chronology of the proceedings in the cases demonstrated a lack of reasonable expedition and that the matters had remained pending for nearly 10 years.The ED has therefore sought day-to-day hearings and trial of the prosecution complaints, along with the pending discharge petitions, saying the move was necessary in the interest of justice.The agency's investigation has focused on investments made in companies associated with Jagan and his family members. It has claimed that various companies and individuals invested substantial amounts through subscription of shares at what it described as exorbitant rates.Among the companies mentioned by the agency are Bharati Cement Corporation Pvt Ltd, Jagati Publications Ltd and Janai Infrastructure Pvt Ltd.The ED's petition before the Telangana High Court seeks to accelerate proceedings in the nine complaints and ensure that the cases, which have remained pending for several years, move forward before the Special Court.- Ends