Maxbien Pharma row: BRS leader files ED complaint against Revanth’s son-in-law

Complaint, submitted at ED headquarters in Delhi, raises serious concerns over land acquisition for Maxbien Pharma in Kodangal, where farmers have been protesting against giving up their lands

New Delhi: In a significant development, BRS leader Manne Krishank has lodged a formal complaint with the Enforcement Directorate (ED) against Chief Minister A Revanth Reddy’s son-in-law, Goluguri Satyanarayana, alleging financial irregularities linked to Maxbien Pharma. The ED acknowledged receipt of the complaint.

The complaint, submitted at the ED headquarters in Delhi, raises serious concerns over land acquisition for Maxbien Pharma in Kodangal, where farmers have been protesting against giving up their lands. The controversy gained momentum after BRS working president KT Rama Rao’s recent revelations about Goluguri Satyanarayana Reddy’s role as director in Maxbien Pharma, where he reportedly holds 16 lakh shares. Additionally, Annam Sharath and his firm SVS Facility collectively own 21 lakh shares in the company.

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Krishank also highlighted a potential conflict of interest involving a private hospital in Warangal, where Annam Sharath is a shareholder. This hospital’s branch was recently inaugurated by Chief Minister Revanth Reddy at Warangal, further deepening suspicions of undue favoritism.

He also cited the ED’s previous investigations into the Goluguri family members where the investigation agency unearthed bank fraud involving Goluguri Ramakrishna Reddy, who allegedly diverted crores of rupees to family members and businesses.

Satyanarayana Reddy’s father, Goluguri Venkat Reddy, is brother of Ramakrishna Reddy and the duo operate multiple businesses jointly. The duo are facing multiple cases of bank defaults and their properties tied to these debts have been auctioned by institutions like Bank of Baroda and Syndicate Bank.

Krishank urged the ED to probe whether funds linked to past frauds were diverted to Maxbien Pharma. Supporting his claims, he submitted shareholding documents and financial records, along with an official ED statement detailing earlier investigations.