Income Tax officials raided the offices and properties of Ramky Pharma City at Parawada near here on Thursday.
The officials, who reached Parawada at around 8.30 a.m., continued the search and seizure operation till evening as part of the State-wide raids on properties of Ramky Infrastructure Limited.
The firm holds 51 per cent equity in Ramky Pharma City, in which APIIC also has stake. A senior official of Ramky Pharma City confirmed the raids but declined to comment on it. Raids were also held simultaneously at its office in Hyderabad.
The Enforcement Directorate had served attachment notices on January 9 on 23 plots in non-SEZ and eight in SEZ area at the Pharma City. The plots were allegedly developed in the area originally earmarked for greenbelt. The firm is said to have gained Rs.133.74 crore through auction of plots.
Ramky’s name also figures in YSRC president Y.S. Jaganmohan Reddy’s disproportionate assets case registered by the CBI.