I-T Dept searches Ramky Group offices

Hyderabad, Feb 7:

Sleuths of the Income Tax Department today searched the offices of Ramky Infrastructure Limited and its firms.

The Hyderabad-based infrastructure company is under probe by various investigating agencies, including Central Bureau of Investigation. The earlier investigations relate to disproportionate assets case of Y.S.Jagan

Mohan Reddy, Chief of YSR Congress Party and son of former chief minister, Y.S.Rajasekhara Reddy. Jagan is now lodged in jail facing various cases.

According to sources, there has been hectic activity at the Ramky corporate office. However, the exact purpose of the raid is not clear.

The Income Tax officials conducted searches at offices at various locations of the company.

The company officials could not be reached for confirmation and clarification.

The Ramky group is also facing probe by the Enforcement Directorate for the Ramky Pharma City project located near Visakhapatnam. Ramky Group Chairman Ayodhya Rami Reddy is also being probed in the cases relating to Jagan Mohan.

The ED had also last month attached some of the assets of the Ramky Group in the pharma city project. The ED probe relates to money laundering case against Jagan Mohan.

The company shares closed at Rs 88.85, down 4.56 per cent.