The shell companies linked to the YSR Congress party chief were among the bogus firms targeted by the ED in its nation-wide crackdown.
The central agency conducted simultaneous raids on around 110 premises and 300 shell companies that were suspected to be involved in dubious and illegal transactions post demonetisation.
"ED searches at shell companies related to Y.S. Jagan Reddy, Rajeshwar Exports & others to unearth their modus operandi," the ED tweeted.
The agency is looking into the alleged links between Mumbai-based Rajeshwar Exports and firms linked to Jaganmohan Reddy.
The ED had arrested the owner of Rajeswara Exports Kritika Dahal in February for money laundering using her company in Hong Kong.
The Directorate team had come across illegal deposits post demonetisation worth Rs 700 crore with various bank accounts, which later got diverted to Hong Kong.
The ED raids came close on the heels of the Central Bureau of Investigation (CBI) filing a petition in a special court here seeking cancellation of bail of Jaganmohan Reddy in the illegal assets case for allegedly violating his bail conditions.
Jagan, as the businessman-politician is known, spent 16 months in jail before he was granted bail in September 2013.
The CBI has so far filed 11 chargesheets in the case against Jagan and others.
The case relates to alleged investments made by private firms and individual investors in Jagan's companies in return for the favours they received when his father Y.S. Rajasekhara Reddy was Chief Minister during 2004-09.
Jagan is also facing investigations by the ED for alleged money laundering. It has so far attached properties valued at Rs 2,524 crore in the case.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.