Telangana HC orders ED to release Hetero land | Hyderabad | Sidnaz Blog

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HYDERABAD: The Telangana high court on Friday directed the enforcement directorate (ED) to release the 43 acres of land belonging to Hetero drugs company at Nakkapalli in Visakhaptnam district that was attached earlier by the probe agency.
An appellate tribunal under PMLA Act had earlier directed the authorities to obtain cash deposit of equivalent worth of this land from the company and release the land from attachment. Accordingly, the company deposited Rs 5.6 crore with the ED, but the agency did not release the land till now.
ED’s counsel Anjali Agarwal said they have challenged the tribunal order before the high court and the HC earlier asked both parties to maintain status quo in respect of this land.
Hetero counsel P Nagendra Reddy said it is unfair on the part of ED to keep both the land and the cash with it. The bench, too, found the action of the ED unacceptable. It refused to entertain the request of the ED counsel for more time and modified the earlier status quo order and directed the ED to release the Hetero land.
Taking up a related case in the quid pro quo episode filed by Jagathi publications and auditor Vijay Sai Reddy, Justice Shameem Akther of the high court sought copies of the counters filed by all the parties in physical format and posted the case on July 23.

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