Will Jagan’s assets be freezed?

Will Jagan’s assets be confiscated by investigating agencies, making him financially crippled and politically immobile? The central agencies including ED and CBI are mulling over moving in any time to freeze the accounts of various business ventures of the YSR Congress Party chief for a number of violations.

The agencies are said to have independent evidence for more than one case wherein Jagan violated Fema and other regulations governing foreign capital. The agencies are already preparing to acquire solid evidence by visiting Mauritius, where from Jagan allegedly manipulated his accounts through shell companies.

Once the Mauritius trip is over, the authorities are likely begin freezing assets of various companies including Jagathi Publications, that will hit Jagan most.

The employees of both Jagan’s paper and TV channel are a worried lot with the Damocles’ sword hanging over their heads. Besides the political heat, the media companies are also feeling financial heat for sometime, as the government has stopped being liberal to the paper with its advertisements.

Already, CBI is said to be looking as to how more than Rs 60 cr worth of ads were given by the YSR government to Sakshi in the very first year of inception against rules.