Ex-official of Ramky Group questioned by police

Hyderabad: Police on Sunday questioned S. Vijay Ram Reddy, a former senior employee of the Ramky Group, in connection with a financial embezzlement case. Punjagutta police has booked a case against Mr Vijay Ram Reddy, who is the cousin of Ramky chairman Ayodhya Rami Reddy, following a complaint from the company management.

The accused had allegedly transferred lakhs of rupees from company accounts to the accounts of his relatives.

Mr Vijay Ram Reddy, who was heading the finance department at the Ramky Infrastructure Limited office in Somajiguda, allegedly misappropriated funds before he left the job a few months ago, said a senior West Zone police official.

“So far, our officials have established that the accused had diverted Rs 23 lakh from the company account to his brother’s and wife’s bank accounts,” said West Zone DCP V. Satyanarayana. He added that further investigation will reveal if more money had been misappropriated.

The police has started an investigation into the matter after the Ramky Group’s legal wing lodged a complaint.