Telangana HC allows interim applications filed by Y.S. Bharathi Reddy

Hyderabad: The Telangana High Court on Monday allowed the interim applications filed by Y.S. Bharathi Reddy, wife of Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy, Silicon Builders Pvt Ltd., Bhagavath Sannidhi Estates Pvt Ltd and Revan Infra Private Limited to release a few that the Enforcement Directorate had attached in relation to their disproportionate assets cases.

These properties include 2,500 sq.yd of land at Raidurgam, 61,38,937 equity shares at Rs 10 of Sanduru Power Limited, land and buildings located at Bengaluru (Silicon Builders Pvt. Ltd and Revan Infra Ltd.), in lieu of fixed deposits.

On the condition that they would provide fixed deposit certificates in lieu, the court ordered the release of the properties.

Chief Justice Ujjal Bhuyan on Monday pronounced the orders on the civil miscellaneous second appeals (CMSAs) that the ED filed as it was aggrieved by the common order dated July 26, 2019, of the Appellate Authority, PMLA, New Delhi, which had released the properties.

The High Court on November 18, 2019, had granted status quo in respect of the properties attached, pending disposal of these CMSAs.