Enforcement Directorate attached assets worth Rs 216 crore belonging to Ramky Pharma City based in Vizag for alleged money laundering in connection with the disproportionate assets case of YSR Congress president YS Jaganmohan Reddy.
As per CBI Chargesheet, Ramky Pharma City received undue favours from AP Government during YSR's regime. Ramky Group obtained 914 acres in Jawaharlal Nehru Pharma City in Vizag by reducing the 'green belt' from 250 metres to 50 metres just because of the quid-pro-quo deal. In return, It invested Rs 10 crore in Jagati Publications owned by Jagan.
Ramky Pharma City converted 627 acres of 914 acres into industrial plots and sold out them to other Pharma Companies. ED attahed Immovable Properties worth Rs 216 crore as of now.
It was only in this week Enforcement Directorate attached properties worth Rs 130 crore belonging to Indu Projects Limited owned by Syam Prasad Reddy in the illegal assets case of Jagan.