Release of Jagathi Properties: HC Not Inclined to Stay Tribunal's Orders

HYDERABAD: The Telangana High Court on Monday was not inclined to stay the Enforcement Directorate’s appellate tribunal order, which had released the attachment of properties that belonged to Jagathi Publications, Gilchrist Investments pvt ltd, Sugani Constructions LLP and others.

The division bench of Justice P. Sam Koshy and Justice Laxminarayana Alishetty on Monday heard the revision petitions filed by ED, challenging the tribunal’s orders.

Anil Tiwari, ED counsel, said submitted that the companies were involved in money laundering in relation to the Y.S. Jagan Mohan Reddy disproportionate assets case .

The bench cited the instance of the court previously issuing orders for releasing properties belonging to Vanpic. The bench contended said that as these were similar cases, how could it issue stay orders now.

ED counsel said that the directorate was preparing to file an appeal in the Vanpic case. The bench, observing that the orders were passed almost a year back (September 2022), wanted to know why the ED had not filed the appeal. “It is not justifiable,” the bench said.

The bench also questioned how properties of some companies were attached, even though they were not accused in the cases. It adjourned the case to August 11.