A. Ayodhya Rami Reddy has resigned as Executive Chairman and Director of Ramky Infrastructure Ltd to enter politics and contest in the ensuing general elections.
In a statement to BSE, the company said the board of directors at its meeting held on February 25 had considered his resignation and approved the appointment of Kamlesh Shivji Vikamsey as non-executive Chairman for a period of six months.
The board also re-constituted the audit committee with A. G. Ravindranath Reddy (Chairman) and Archana Niranjan Hingorani and V. Harish Kumar as members.
A selection committee comprising Vice-Chairman and Managing Director. Kamlesh Shivji Vikamsey, Chairman, Archana Niranjan Hingorani, A. G. Ravindranath Reddy, Rajasekhara Reddy and Rajiv Maliwal have been entrusted the task of appointing a new chairman.
There are indications that Rami Reddy will contest from Narsaraopet for the YSR Congress Party.
The diversified infrastructure company based in Hyderabad has been made an accused in the disproportionate assets case of Y.S. Jagan Mohan Reddy. Certain properties in Ramky Pharma City were also attached. The company is contesting various cases.