HC has granted a status quo on attachment of properties of Janani Infra Ltd

Hyderabad High Court has granted a status quo on attachment of properties of Janani Infra Ltd., Jagathi Publication, Caramel Asia Ltd., Indira Television Ltd. and also the properties of Penna Group of Companies, Hetero Pharma Ltd. and Aurbindo Pharma, by the Enforcement Directorate in an illegal investments case allegedly involving Y.S. Jagan Mohan Reddy.  A division bench comprising Justice V. Ramasubramanian and Justice J. Uma Devi was dealing with appeals moved by Janani Infra Ltd., Jagathi Publication, Caramel Asia Ltd. and Indira Television Ltd. and it directed the ED to maintain status quo till further orders.

The appellant companies challenged the order of the Appellate Tribunal of the Enforcement Directorate in refusing to direct the ED authorities to release their attached properties.  The ED had attached Rs 51 crore worth of properties belonging to Janani Infra Ltd., Jagathi Publication, Caramel Asia Ltd.,  Indira Television Ltd., Hetero Pharma Ltd. and Aurbindo Pharma in 2012 and also Rs 47 crores of properties of Penna Group of Companies.

K Manmadha Rao, counsel for the ED, contended that the appellate companies cannot move an appeal before the High Court against the Appellate Tribunal’s order.  The bench granted the  status quo and adjourned the case to a period after summer vacation.