Naidu Declares Assets Worth Rs. 40 Cr

To silence his critics and refute charges of having amassed wealth of about Rs. 2,000 crore, Telugu Desam Party president N Chandrababu Naidu on Friday declared the assets of his family members.

According to the declaration, Naidu and his family members have assets worth Rs. 39.88 crore. He claimed that the disclosure of assets was aimed at maintaining transparency in political life, and said that every citizen in the country has a right to know about his/her leaders' wealth.

Speaking to the media at NTR Trust Bhavan, Naidu said that he had submitted his value of properties to the Assembly Secretary on 2004-09. He said he has Rs. 40 lakh worth of assets, and that the family's investment in Heritage Foods was 48%.

Naidu's son Lokesh supposedly has Rs. 6.73 crore, and his daughter-in-law Brahmani has assets of Rs. 3.22 crore.

Stating that Heritage Foods has debt to the tune of Rs. 98 crore, Naidu said the company has provided employment to 4 lakh farmers indirectly, in 5 states.

Naidu said that his wife Bhuvaneshwari's investment in Heritage Foods was about Rs. 19.95 crores in. Her investments in the unlisted Niraman Holdings was Rs. 13.77 crore, and in Heritage Agromarine Pvt. Ltd. Rs. 98 lakhs.

She also owns gold jewellery worth Rs. 26.96 lakhs and silver worth Rs. 4.57 lakhs, according to the declaration.

Naidu said Lokesh has property in Jubilee Hills worth Rs. 2.36 crores, a 5-acre piece of land in Madinaguda village, an 8.4-acre piece of land in Maharashtra, and 3.17 acres of land in Hubli in Karnataka worth Rs 60.54 lakhs.

Lokesh's investments in various firms have been stated to be Rs 2.52 crore.

Naidu said daughter-in-law Brahmani has 924 sq ft of land in Madhapur, worth Rs 3.37 lakh, 778 sq ft land in Nandini hills worth Rs. 4.79 lakhs, and a paid advance of Rs. 1.15 crore for property in Emaar ventures in Manikonda.

Naidu said that he has a house worth Rs. 23 lakhs and a bungalow on 650 sq ft of land in his wife's name at Punjagutta.

Naidu said that he was ready to write his properties off to anyone who can prove that he holds assets beyond what he has declared.

Announcing that he was ready to disclose his properties every year, Naidu demanded that leaders of other political parties emulate him. (INN)