Ramky Infra’s arm gets provisional attachment order for Rs 133 crore from ED

10 Jan 2013 Evaluate

Ramky Infrastructure’s subsidiary company with 51% holding - Ramky Pharma City (India), has received provisional attachment order from Enforcement Directorate (ED) on January 09, 2013, for attachment of assets/properties to the tune of Rs 133.74 crore comprising land and facilities for Rs 130.54 crore and mutual fund of Rs 3.20 crore. This is in continuation of its earlier communication dated May 08, 2012, regarding filing of Charge Sheet by CBI.

Further, the company is expected to take all measures including appealing against this order before the Adjudicating Authority. Moreover, the company has reiterated that the project of Ramky Pharma City (India) is being carried out in accordance with the provisions of the Concession Agreement executed between Ramky Pharma City (India) and Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and after obtaining the requisite approvals and following the due process of law.

Ramky Infrastructure is the flagship company of the Ramky Group, one of the leading civil and infrastructure engineering companies in India.

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