Nara lokesh, the only son of and heir apparent to the Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday announced the details of his and family’s assets amounting to Rs31.47 crore.
He also announced that he and his family had liabilities of Rs6.35 crore.
He also announced the assets and liabilities of his parents Chief Minister N Chandrababu Naidu and entrepreneur Bhuvaneswari.
The total assets of the entire family stood at Rs60.04 crore and liabilities of Rs22.41 crore.
Naidu has been releasing the details of his assets annually for the last six years to set an example for the other leaders of his Telugu Desam party.
Addressing a media conference in Vijayawada today lokesh, national general secretary of the TDP said, “ours is the only political family in the entire country of which all the members have been declaring their assets annually”, he said. “our leader Chandrababu Naidu had started this practice while in opposition six years ago to set an example for the entire country”, he said.
“We have gone much beyond the stipulation that the candidates should submit the details of his assets to the Election Commission at the time of contesting the polls”.
Assets in the name of the family include immovable properties properties of Rs 8.15 crore, shares of Rs 2.52 crore in the family owned Heritage Food company, and share of Rs 1.64 crores in other companies. lokesh said he had a car worth Rs 93 lakhs.
lokesh’s wife Brahmini’s assets include a house in Jubilee Hills area of Hyderabad worth Rs 3.5 crore, a piece of land in Madhapur area worth Rs 17 lakhs, a commercial plot in Chennai worth Rs 48 lakhs, a plot in Manikonda area of Hyderabad worth Rs 1.23 crore.
lokesh also announced the assets held in the name of his year old son including a house in Jubilee Hills worth Rs 9.17 crore, fixed deposit of Rs 2.4 crore and cash of Rs 2.31 lakhs.
lokesh also released the details of the assets of his father Chandrababu Naidu worth Rs 3.73 crore and his mother Bhuvaneswari’s assets of Rs 38.66 crore. Bhuvaneswari, the managing director of Heritage Food Co., also has liabilities of Rs 13 crore.
Naidu’s assets include a house in Hyderabad worth Rs 3.68 crore, an old ambassador car worth Rs 1.52 lakhs and Rs 3.59 lakhs in bank account. He also has a liability of Rs 3.06 crore as bank loan.
Bhuvaneswari’s assets include immovable property worth R 24.84 crore, land in Punjagutta area of Hyderabad worth Rs 73 lakhs, land in Tamil Nadu worth Rs 1.86 crore, land in Madina Guda in Hyderabad worth Rs 73 lakhs, shares in Heritage Food valued at Rs 19.95 crore, shares in other companies of Rs 3.23 crore, gold jewelry Rs 1.27 crore, car worth Rs 91 lakhs.
On the allegations that the family had much more wealth than declared, Nara lokesh challenged that if the charge was provide he will immediately transfer the said assets to the person leveling the charge.
He said that the family was financially stable and did not face any hardship as it had started the Heritage Food Company 24 years ago. “last year the Heritage Food had a turnover of Rs 2381 crore and a profit of Rs 55 crore”, he said. The company was providing employment to 20000 people and its income had increased 100%.
“like any other family ours also wanted financial security. That is why it had started the company”, he said.
The move was being seen as a juxtaposition against TDP’s main political rival YSR Congress President YS Jaganmohan Reddy who is facing massive charges of corruption, fraud and misuse of power amounting to thousands of crores of rupees.