According to reliable sources, the Enforcement Department (ED) is first going to question Kadapa MP and YSRCP president YS Jagan Mohan Reddy and then attach his assets. The ED ahs already drawn up a list of assets belonging to Jagan and looking for more, based on the findings of the CBI investigation. Sources said ED officials are likely to question Jagan, who is in judicial custody, before any attachment order is issued. Two ED officials from headquarters in Delhi have arrived in Hyderabad for recording Jagan’s statements.

Jagan Mohan Reddy was arrested by the CBI on Sunday in a disproportionate assets case. Besides CBI and ED, he is also is facing probe from the Income Tax department. At least 15 of his companies have come under the scanner that includes Jagathi Publication, Sandur Power Co Ltd, Saraswati Power and a few real estate firms. The ED is looking into foreign investments made into some of these companies. Cases have been registered under both PMLA and Foreign Exchange Management Act. These companies had seen sudden jump in their share values. The probe had revealed that foreign investments made in some of these companies were later diverted to Jagan’s publication in alleged violation of FEMA guidelines.

Jaganmohan Reddy first came on the radar of the investigating agency in 2010, soon after his father’s death in a copter crash a year before. The Income Tax department started investigating his wealth when he deposited an advance tax of Rs 84 crore for April-September of 2010-11. This was a huge jump compared to the previous two years when his tax outgo was a paltry Rs 2.92 lakh for 2008-09 and Rs 6.72 crore for 2009-10. The probe revealed that the payments resulted from the sale of a portion of his shares in the familyheld Bharathi Cement Company Ltd. The sale had earned him Rs 416 crore and he was still left with shares worth more than Rs 2,600 crore in the company at that point. Both the CBI and ED later started their probe by registering cases against Jagan and his close aides and companies that had invested in his firms.