Ramky Infra head quits business to take a political plunge

HYDERABAD: Ramky Infrastructure Limited has announced that its executive chairman and director A Ayodhya Rami Reddy, 49, has resigned from the company to take a political plunge.
In the filing to the bourses, the Hyderabad-based infra company had said that Reddy had resigned as he intended to contest the ensuing Lok Sabha elections.
Reddy holds a masters in civil engineering from Osmania University and has more than 24 years of experience in environmental engineering, civil and infrastructure works, bio-medical waste and hazardous waste management.He has held senior positions at Gannon Dunkerley and Reliance Industries Ltd. As chairman of the Ramky Group, he contributed to the strategy and direction of the Ramky Group, in its endeavor to become a waste management and infrastructure group.
Meanwhile, Kamlesh Shivji Vikamsey has been appointed as the non executive chairman of the company for a period of six months. He was earlier the chairman and member of the audit committee.
The company’s board has re-constituted the audit committee with the appointment of AG Ravindranath Reddy as chairman, Archana Niranjan Hingorani and V Harish Kumar as members of the committee..
Ramky Infrastructure Limited is the flagship company of the Ramky Group. In the third quarter ended December 31, 2013, Ramky Infrastructure posted losses of ?133.31 crore as against a profit of ?23.26 crore for the corresponding period last fiscal.