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2-min read

Jagan Mohan Reddy Files Nomination, Declares Assets Worth Rs 375 Crore, 31 Criminal Cases

His wife Bharati has declared assets worth Rs 124 crore and their two daughters have assets worth Rs 6.5 crore and Rs 4.6 crore, taking the family’s total assets to Rs 510 crore.

Medabayani Balakrishna | News18

Updated:March 22, 2019, 11:43 PM IST
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Jagan Mohan Reddy Files Nomination, Declares Assets Worth Rs 375 Crore, 31 Criminal Cases
File photo of YSR Congress Party chief YS Jaganmohan Reddy.
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Hyderabad: YSRCP chief Jagan Mohan Reddy, who filed his nomination papers on Friday, has declared assets worth Rs 375 crore in his election affidavit. His wife has declared assets worth over Rs 124 crore and their two daughters have assets worth Rs 6.5 crore and Rs 4.6 crore, taking the family’s total assets to Rs 510 crore.

The affidavit says he has 31 criminal cases against him related to defamation, assault and criminal force to deter public servant from discharge of duty, criminal intimidation, criminal conspiracy, forgery and rioting among others. He also has seven cases under the Prevention of Money Laundering Act (PMLA), and 11 cases under the Prevention of Corruption Act pending against him.

He has declared liabilities worth Rs 1.2 crore, and that he and his wife have ‘liabilities under dispute’ in the form of government dues totaling to Rs 66.7 crore and Rs 6.8 crore.

As per his self-declared affidavits, in 2014 his total movable assets were Rs 313 crore while that of his wife were Rs 57 crore. His immovable assets were worth Rs 30 crore and his wife Bharathi’s were worth Rs 14 crore in the same year. This means his total assets in 2014 were worth Rs 344 crore and those of his wife were worth Rs 75 crore, taking his total family assets in 2014 to Rs 416 crore, the affidavit says.

Assets

Reddy said his sources of income include his salary as an MLA, his pension from his MP term, rental income, bank interests and agriculture. He possesses a total of Rs 43,560 cash and his spouse holds Rs 49,390 in hand.

Movable Assets

His movable assets are worth over Rs 339 crore, excluding the cash in hand, and his spouse’s movable assets stand at Rs 92.5 crore. His two children, Harshini Reddy, Varsha Reddy, have self-declared movable assets worth Rs 6.4 crore and Rs 4.5 crore.

This includes jewellery under his wife’s name, who possesses gold and diamonds weighing 5.86 kg and amounting to Rs 3,57,16,658 in the market. His two children own gold and diamonds weighing 4.19 kg and 3.46 kg each, worth Rs 3,16,13,435 and Rs 3,12,46,415.

Reddy also has investments in the form of equity shares of unlisted companies, including Bharathi Cement Corporation Pvt Ltd and investment in mutual funds, totaling Rs 3,17 crore while his wife, Bharati, has investments totaling Rs 62.3 crore.

The YSRCP chief said he does not own any vehicle, but four bulletproof cars were registered in his name in view of ‘stipulation by Ministry of Home Affairs’, which include a BMW X5 and three Mahindra Scorpios.

Immovable assets

As far as land is concerned, Reddy and wife own agricultural and non-agricultural land, along with commercial and residential buildings, whose total market value stands at Rs 35.3 crore and Rs 31.5 crore respectively.

Total assets

This brings the total assets declared by Reddy to Rs 375 crore and that of his wife to Rs 124 crore. The family’s total assets amount to Rs 510 crore.

Liabilities

While Reddy's dependents declared that they have no liabilities, he himself has declared liabilities worth Rs 1.19 crore. He also declared that he and his spouse have ‘liabilities under dispute’ in the form of government dues totaling to Rs 66.6 crore and 6.75 crore respectively.

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