TDP's Rayadurg candidate Deepak Reddy has Rs 6781 cr-assets

Hyderabad, Jun 9: Telugu Desam's G Deepak Reddy who is seeking to be elected from Rayadurg Assembly constituency in Andhra Pradesh is not content with declaring assets worth Rs 6781 crore in the affidavit he submitted to the

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The TDP candidate has informed the EC that he will file a separate annexure of properties which have not been registered so far but for which he had "agreements, memorandum of understanding, joint sharing, judgment and decrees from competent courts of law". According to Deepak Reddy, his family has stakes in the aforementioned properties and he does not own a majority of them.

As per his declaration for the assessment year 2009-10, Deepak had an annual income of just Rs 3.27 lakh while his wife's income was Rs 1.98 lakh. Yet amazingly, the couple now have Rs 6.35 crore-worth movable assets apart from Rs 21 crore-worth immovable assets (valued at current market rates).

Interestingly, most of the properties listed by Deepak in his sworn affidavit are disputed ones. Even the government has claimed ownership of some of them. Deepak who acquired an MBA from Widener University in the United States after completing his BCom is reportedly embroiled in 11 civil disputes relating to nearly 6,200 acres of fixed assets.

Hyderabad city police has already registered several cases against him for criminal trespass, intimidation, damage to property and other related activities. Though the 10th special magistrate court in Khairatabad took cognisance of the charges, Deepak got a reprieve when the Andhra Pradesh High Court ordered a stay on further proceedings in the case.

The 39-year-old owner of Great India Mining and Great India Rock Minerals is married to the daughter of JC Prabhakar Reddy, a former minister and senior Congress leader from Anantapur district. Incidentally, the latter is the brother of Congress MLA JC Diwakar Reddy. Despite family connections to the Congress, Deepak joined the Telugu Desam a few months ago.

He was chosen by party chief Chandrababu Naidu to fight the forthcoming bypolls since no one else from the TDP volunteered to contest against Kapu Ramachandra Reddy of the YSR Congress and Patel Venugopal Reddy of the Congress. Both own large tracts of land and several mines too.

The fact that Director General of Police Dinesh Reddy is Deepak's uncle probably explains why he is not afraid of these formidable candidates put up by YS Jaganmohan Reddy and the APCC.

OneIndia News