The Supreme Court on July 14 declined to entertain an appeal by the Enforcement Directorate (ED) against a Telangana High Court decision allowing Y.S. Bharathi Reddy, the wife of Andhra Pradesh Chief Minister Jaganmohan Reddy, to substitute the property attached by the central agency in a money laundering case with fixed deposits.
A Bench of Justices AS Oka and Sanjay Karol asked whether the immovable property attached by the agency was the proceeds of the alleged crime.
Additional Solicitor General S. Raju, for the ED, said they were not, but amounted to the “equivalent value”.