AP CM gets relief in Penna Cements case

Vastavam web: There was a charge sheet filed in the year 2011, in the name of illegal investments worth 45 Crores in Jagathi group of companies of Jagan from the Penna Cements, Pioneer Hotels. It was alleged that this investment were made upon the benefit received by Former CM of AP Late YS Rajasekhar Reddy in their businesses of Penna and Pioneer.

Now, Enforcement Directorate (ED) has received a quick jolt from the Appellate Tribunal for Prevention of Money Laundering Act (PMLA). Tribunal said all the transactions and investments are genuine ED shouldn’t make a judgment based on the allegations made in the CBI charge sheet and FIR, without verifying the facts, which was unproved in the tribunal.