Ramky Infra boss quits to fight Lok Sabha elections

Written by fe Bureau | Hyderabad | Updated: Feb 28 2014, 07:55am hrs
Hyderabad-based Ramky Infrastructure executive chairman A Ayodhya Rami Reddy has resigned and is all set to join politics. In a statement, the company said that Reddy had quit as executive chairman and director of Ramky Infrastructure to enter politics and contest in the ensuing general elections, but did not provide further details.

The board of directors of the company, in a meeting, decided to appoint Kamlesh Shivji Vikamsey, a CA and former president of the Institute of Chartered Accountants of India, as the non-executive chairman for a period of six months. It has also appointed a selection committee, with Vikamsey as its chairman, for identifying a vice-chairman and managing director for the company. It is reliably learnt that Rami Reddy will be joining YS Jagamohan Reddy of YSR Congress party and may contest from Narsaraopet of Guntur district for the YSR Congress Party.

Rami Reddy has over 30 years of experience in infrastructure business and was the founder of the R5,000-crore infrastructure company, Ramky Group. Incidentally, he is also one of the accused in the disproportionate assets case of YS Jagan Mohan Reddy.