AP CM's son assets increased to Rs 330 cr from Rs 14.50 cr in 5 months
In a declaration of assets affidavit submitted to the Election Commission by the Andhra Pradesh Chief Minister Nara Chandrababu Naidu's son, it was revealed that his assets has grown 23 times in just
Hyderabad, March 8: Andhra Pradesh Chief Minister Nara Chandrababu Naidu's son Nara Lokesh who filed nomination on Monday for an MLC seat is believed to possess assets around Rs 330 crore, 23 times higher than his declared assets in October 2016. His assets include shares worth Rs 273.84 crore in form of family-run Heritage Foods, fixed assets worth Rs 18 crore and ancestral property worth Rs 38.52 crore. It seems he has loans of Rs 6.27 crore in addition.
The details of assets submitted by Lokesh look strikingly different when compared with the declared assets of his family on October 19, 2016, in public. During the declaration of assets, Lokesh had said that the property he owns is Rs 14.50 crore, including Rs 2.52 in form of shares in the family enterprise, Rs 1.64 crore shares in other companies and a car worth Rs 93 lakh. Besides, he had said that has loans of Rs 6.35 crore.
[Also read: Eyes on cabinet berth, Chandrababu Naidu's son files nomination for MLC seat]
Interestingly,
Heritage's
retail
was
sold
to
Future
Retail
Ltd
on
November
8,
2016,
but
retained
only
a
3.65
per
cent
stake,
and
yet
Lokesh's
shares
have
gone
up
to
Rs
273.84
crore
from
Rs
2.52
crore.
In
his
affidavit
to
the
EC,
the
Telugu
Desam
Party
general
secretary
also
declared
his
wife
Nara
Brahmani's
and
his
two-year-old
son
Devansh's
assets.
In the affidavit, TDP general secretary declared his wife assets as Rs 28 crore, but in October he declared his wife assets as Rs 5.38 crore. His son Devansh's assets remained the same at Rs 11.70 crore.