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Ramky’s Rs 216 Cr Assets Attached in Jagan Case

Published: 28th March 2015 06:00 AM  |   Last Updated: 28th March 2015 08:27 AM   |  A+A-

HYDERABAD:  The Enforcement Directorate (ED) on Friday attached properties worth ` 216.18 crore belonging to Ramky Pharma City India Limited of Ramky Infra Limited, in the YS Jagan Mohan Reddy illegal assets case.  Based on the chargesheet filed by the CBI that Ramky Pharma City India Limited (RPCIL) has got undue benefit of 914 acres of land in Jawaharlal Nehru Pharma City, Visakhapatnam, by reducing the green belt area from 250 meters to 50 meters, the ED, Hyderabad Zone, has initiated investigation under Prevention of Money Laundering Act against RPCIL.

The investigation revealed that due to reduction of green belt area, the RPCIL has unduly gained 914 acres for which Ramky Group has invested `10 crore in share capital of Jagati Publications Pvt Limited.

Out of the 914 acres, RPCIL converted 627 acres into industrial plots and sold/leased out in 468 acres to different pharma companies.

The probe further identified about `101 crore worth properties unduly gained and already sold. In addition, `115 crore worth 16 plots of 159 acres, which are being sold, are also been identified as proceeds of crime.

The attached properties include 16 plots which are being sold admeasing 159,566 acres in Jawaharlal Nehru Pharma City worth `115 crore, plot no 56 and 45 admeasuring 18,985 acres in JNPC worth `22.78 crore, balance amount in plot No 83 in non-SEZ area of 34, 43 which was attached worth `7.61 crore, 73.648 acres of land in Thanam village worth `35.64 crore, 23.394 acres  in Thadi village worth `8.44 crore, 37.379 acres in Lemarthi village worth `18.09 crore and 11.624 acres of land in E Bonangi village worth `8.44 crore.

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