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Why Didn't Naidu Declare Assets Till Now?

For the last couple of months, Andhra Pradesh has been witnessing hectic political activity due to YSRCP president Jagan’s padayatra, defection of YSRCP MLAs and leaders into the ruling TDP, controversy over fresh tenders called for Polavaram works and CM Chandrababu’s open confrontation with the BJP.

Amidst all these developments, people of the state have forgotten an interesting development which was supposed to have happened, but has not happened till now.

It is the annual ritual of “declaration of assets” by Naidu and his family members.

For the last few years, Naidu had been declaring his and his family members’ assets in September.

Last year, it happened in October with his son Lokesh declaring the assets and every time, Naidu and Lokesh used to claim that theirs is the first political family to declare the assets in the most transparent manner.

But this year, there has been no word from the family as yet on the declaration of the assets, though it is now December.

May be, the family members are too preoccupied with their political activity to get their assets valued by the auditor or there could some other reasons.

In fact, the declaration of assets by Lokesh last year kicked up a little controversy.

In October last, Lokesh declared that the total value of properties owned by him was only Rs 14.50 crore, including Rs 2.52 crore in the form of shares in Heritage, Rs 1.64 crore worth shares in other companies and a car worth Rs 93 lakh. He also declared that he had loans worth Rs 6.35 crore.

But in the nomination papers filed for the MLC elections this year, Lokesh submitted an affidavit to the Election Commission stating that the total value of his assets is around Rs 330 crore including Rs 273.84 crore in the form of shares in Heritage Foods, fixed assets worth Rs 18 crore and ancestral property worth Rs 38.52 crore. Besides, he also declared loans worth Rs 6.27 crore.

It created an impression that the value of his assets had gone up by nearly 23 times in a span of five months.

He, however, later clarified that the declaration of assets in October were as per the book value, whereas the assets projected to the EC were as per market value.

May be, the Nara family is now confused as to whether it should declare the assets as per market value or the book value.

May be the delay is because of this confusion.

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Tags: Assets Chandrababu Naidu Nara Lokesh