The Enforcement Directorate on Friday attached immovable properties belonging to Ramky Pharma City India Ltd worth Rs 216 crore in the disproportionate assets case filed by the CBI against Y S Jagan Mohan Reddy. The chargesheet, filed by the CBI, charges Ramky Pharma City India of undue benefit of 914 acres of land in Jawaharlal Nehru Pharma City, Visakhapatnam, by reducing a declared ‘Green Belt’ area from 250 metres to 50 metres. The ED has initiated investigation under Prevention of Money Laundering Act, 2002, against Ramky Pharma City India and others. ED investigations revealed that due to reduction of green belt area, Ramky has unduly gained 914 acres of land in lieu of which Ramky Group invested Rs 10 crore in share capital of Jagati Publications Pvt Ltd owned by Jagan. His father late Y S Rajasekhara Reddy was the chief minister at that time when the allotment was made. [related-post] Out of the 914 acres of land that Ramky got, it converted 627 acres into industrial plots and sold or leased out plots in 468 acres to different pharma companies. The ED had earlier attached Ramky’s properties worth Rs 134 crore and Rs 10 crores of Jagati. Further probe identified about Rs 101 crore worth of properties equivalent to that of the unduly gained properties already sold by Ramky. In addition, 16 plots worth Rs 115 crore, which are being sold, have also been identified as proceeds of crime. Accordingly, the ED attached all the properties worth Rs 216 crore. The attached properties include: 16 plots in Jawaharlal Nehru Pharma City owned by Ramky worth Rs 115 crores; plot number 45 and 56 in 18.965 acres worth Rs 22.78 crores; plot number 83 of 34.43 acres worth Rs 7.61 crores; 73648 acres in Thanam village worth Rs 35.64 crores, 37.379 acres in Lemarthi village worth Rs 18.09 crores; 23.394 acres in Thadi village worth Rs 12.45 crores, 11.624 acres of Bongani village worth Rs 4.72 crore.
