Trouble in Kodangal pharma unit for CM Revanth's Son-in-law

Hyderabad: On the directions of BRS working president a complaint against CM Revanth's son-in-law Goluguri Satyanarayana's Maxbien Pharma has been lodged at ED Headquarters New Delhi by BRS leader Manne Krishank.

As Revanth's Government has initiated steps for land acquisition in Kodangal, farmers have protested that they are not willing to give their lands to Revanth's son-in-law's pharma company. A controversy has erupted when details started coming out from MLA KTR's press meet over the role of Goluguri Satyanarayana as Director in Maxbien Pharma with 16 lakh shares and one Annam Sharath and his firm SVS Facility jointly 21 lakh shares, and a private hospital in which he is a shareholder was opened recently by Chief Minister Revanth Reddy in Warangal is a point of concern.

Significantly, Revanth's son-in-law's family has already cases registered on them by Enforcement Directorate. Under investigation, ED has disclosed that accused Goluguri Ramakrishna has done a Bank fraud and diverted several crore funds to family members and to start other businesses as released in a official statement by ED. Goluguri Ramakrishna and Goluguri Venkat Reddy are brothers as well as directors in several business companies. Their son Goluguri Venkat Reddy is Director of Maxbien Pharma.

As ED mentioned diversion of funds, there is a suspicion of possibility of diverting crores of funds to Maxbien Pharma. There are several Bank Fraud cases, Bank Default cases against Goluguri family members. For example, Bank of Baroda and Syndicate Bank have auctioned assets as Goluguri family failed to pay bank defaults. Keeping this in mind, ED has to investigate in Revanth son-in-law's Maxbien Pharma, all the necessary evidence, including documents of shares and financials of Goluguri Satyanarayana has been produced along with ED official statement in ongoing investigation. ED officially received Krishank's complaint.