Chandrababu Naidu listed only the acquisition value — not the current market value
Facing searching questions over his wealth, the Telugu Desam president, Mr N. Chandrababu Naidu, on Friday made public a list of his and his family’s assets — Rs 37.92 crore, minus liabilities of Rs 27.85 crore.
Mr Naidu listed only the acquisition value — the value of the asset at the time of purchase — and not the current market value.
In 2009, however, while filing his nomination papers for the Assembly elections, Mr Naidu needed to file the market value of his assets.
According to that declaration, Mr Naidu’s assets were worth Rs 12.33 crore, and those of his wife at Rs 55.43 crore, with outstanding loans of Rs 17.09 crore, or net assets of Rs 50.67 crore.
It may be mentioned here that his attacks on the YSR Congress chief, Mr Y.S. Jagan Mohan Reddy, Mr Naidu has always used the market value of his assets. The TD chief not only declared his own assets and liabilities, but also that of his wife, Ms Bhuvaneshwari Naidu, son, Mr Lokesh Naidu, and daughter in-law, Ms Brahmani Naidu, who take care of the family-owned Heritage Foods, Nirvana Holdings Private Limited and other companies spread across Hyderabad, Chittoor, other parts of Andhra Pradesh, Tamil Nadu, Maharashtra and Karnataka.
Interestingly, Mr Chandrababu Naidu’s own total declared assets of `Rs 9.88 lakh is peanuts compared to the assets declared by his wife (Rs 39.57 crore), son (Rs 6.82 crore) and daughter-in-law (Rs3.22 crore), “I want to be a trendsetter. It was the Telugu Desam which set the trend of declaring assets of all MLAs in 1999. Again, I am the first politician in the country to declare assets of other family members apart from mine, though it was not needed,” Naidu said.
The TD chief, shot two birds with one stone by declaring his assets.
Source from DC
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