TDP chief, family declare net assets

: Telugu Desam Party chief N

Chandrababu Naidu grew richer by about Rs 87 lakh as his net assets touched Rs 3.87 crore but his liabilities stood at Rs 5.13 crore on account of a housing loan.

His wife Bhuvaneswari, who heads the familys Heritage business, saw an increase of over Rs 8 crore in her fortune with the net assets being Rs 39.58 crore.

Their son and MLC Nara Lokesh on Thursday declared the familys assets and liabilities, which has become an annual practice for the last nine years.

Interestingly, Lokesh said he became poorer by Rs 2 crore compared to last year as the value of his net assets shrunk to Rs 19 crore. He had liabilities to the tune of Rs 5. 70 crore.

 

His son Devansh is now richer than Lokesh with net assets of Rs 19.42 crore without any liabilities.

Lokeshs wife Brahmani, who holds an executive position in Heritage, too became richer by over Rs 4.5 crore since last year, with net assets of Rs 11.51 crore.

"The value of these assets is disclosed at the rate at which they were bought and not the current market price as the present value could rise or fall based on several socio- economic factors," Lokesh told a press conference.

Nirvana Holdings, the familys investment company, too, saw an increase in its net assets from Rs 6.8 crore to Rs 9 crore but its liabilities stood at Rs 34.85 crore, according to Lokesh.

Lokesh also said none of the allegations of disproportionate assets against his family were proved.

We challenge anyone to prove if the Nara family had even one rupee more than its declared assets, he added.