HYDERABAD: With the CBI launching a full-fledged probe into the alleged ill-gotten wealth of YSR Congress chief YS Jagan Mohan Reddy, the Union Finance Ministry, it appears, has chosen to wait and watch before giving the green signal to the Enforcement Directorate (ED) to examine the money-laundering angle in the case.Though the economic intelligence agency is making discreet enquiries, the bosses in the revenue department of the Finance Ministry have so far refrained from unleashing “the second wave of attacks” -- as sources put -- on the young MP.Confirming the status of the Enforcement Directorate’s position vis-a-vis Jagan, the sources told Express that the “ministry is waiting for concrete feedback from the CBI on the affairs of Jagan’s companies.The ED probe will form the second round of Operation Jagan (after the CBI investigation).” However, concurrent with the CBI probe, the ED is making enquiries into the trail of funds into Jagan’s companies. If and when the ED launches a probe, it might register a case under the Prevention of Money Laundering Act.Meanwhile, the CBI, during its three-day search ops, is said to have seized several files and documents, copies of which the companies had either already submitted or gathered by the investigating agency itself. “Several documents are repetitive while some are of no use. All such documents are being segregated,” sources said. Several CBI teams which arrived from other states to assist the local unit during searches, have been sent back. Some have, however, been assigned the task of segregating the documents. A battery of auditors have also been roped in by the CBI.It’s Business as Usual The CBI is reportedly keeping an eye on all individuals, either named in the FIR or associated with the companies. But it was business as usual for Nimmagadda Prasad two days after the CBI raids. The CBI submitted search lists and warrants duly executed by it to the Special CBI Court.
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