BRS files complaint with ED against company linked to Telangana CM’s relative

Hyderabad, Nov 19 Bharat Rashtra Samithi (BRS) leader Krishank Manne has lodged a complaint with the Enforcement Directorate against Maximen Pharma allegedly owned by Telangana Chief Minister A. Revanth Reddy’s son-in-law, Goluguri Satyanarayana.

Krishank, who is the social media convener of BRS, sought a probe into financial irregularities by the company and claimed that Satyanarayana’s family members have ED charges of bank fraud and diversion of funds.

According to the BRS leader, the ED in July named Goluguri Ramakrishna Reddy and others in a case of siphoning close to Rs 311 crore. The diverted funds were allegedly used to acquire immovable properties and were also invested in their other businesses. Ramakrishna Reddy is the uncle of Satyanarayana.

Krishank claimed that the Congress government is forcibly acquiring lands in the Chief Minister’s Assembly constituency Kodangal to benefit Maxbien Pharma.

Goluguri Ramakrishna is the brother of Goluguri Venkat and they are directors in numerous businesses. Goluguri Venkat is the brother-in-law of Revanth Reddy and father to Goluguri Satyanarayana.

The BRS leader alleged that the Chief Minister’s son-in-law’s family has multiple cases of bank defaults. As Maxbien Pharma boasts of crores of rupees in investments through shares, ED has to investigate its financials and source of funds. He also claimed that Revanth Reddy also opened a private hospital in Warangal in which Maxbien Pharma directors have shares.

BRS working president K. T. Rama Rao had also spoken about the role of Goluguri Satyanarayana as director in Maxbien Pharma with 16 lakh shares. He claimed that Annam Sharath and his firm SVS Facility jointly have 21 lakh shares, and a private hospital in which he is a shareholder was opened recently by Chief Minister Revanth Reddy in Warangal are pointing concerns.

“As ED mentioned the diversion of funds, there is a suspicion of the possibility of diverting crores of funds to Maxbien Pharma. There are several bank fraud cases, and bank default cases against Goluguri Family members. For example, Bank of Baroda and Syndicate Bank have auctioned assets as Goluguri family failed to pay crores of bank defaults,” Krishank said.

Krishank said all necessary evidence, including documents of shares and financials of Goluguri Satyanarayana, have been produced along with ED’s official statement in the ongoing investigation.