YS Jagan Mohan Reddy declares assets worth Rs 375 crore for polls

Vijayawada: In what could be one of the longest affidavits filed, YSRC president Jagan Mohan Reddy declared assets worth Rs 375.19 crore when he filed his nomination papers from the Pulivendula Assembly constituency.

According to the affidavit, Mr Reddy has been named in 31 criminal cases that are serious in nature, a majority of them alleging financial fraud.

There is an increase in his assets from the last election filing, of Rs 31.19 crore. Assets owned by his wife Bharathi Reddy have increased by Rs 124.12 crore. Mr Reddy had investments worth Rs 317.34 crore in several companies and in mutual funds. According to the affidavit he submitted on Friday, he owns moveable assets worth Rs 339.89 crore.

His wife Bharathi Reddy has investments worth Rs 62.35 crore in several companies and other sources like bonds, debentures, shares and mutual funds. She also has moveable assets worth Rs 92.53 crore.

The couple carry very less of cash in hand. Both had only Rs 43,560 and Rs 49,390 in cash. Mr Reddy does not own a vehicle.

Ms Bharathi Reddy declared owning 5.86 kg of gold having a market value of Rs 3.57 crore. The couple’s daughters, Harshni Reddy and Varsha Reddy, possess 4.18 kg and 3.45 kg of gold, having a market value of Rs 3,16,13,435 and Rs 3,12,46,415 respectively.

Mr Reddy owns agriculture, non-agriculture, commercial and residential land valued at Rs 35,30,76,375 and Ms Bharathi owns land worth Rs 31,59,02,925. He had also taken a bank loan of Rs 1,19,21,201. Mr Reddy derives his income from his salary as an MLA, his pension as an MP, rental income, interest and dividends.

He has investments in seven companies that include Bharathi Cement, Carmel Asia Holdings Pvt Ltd, Classic Realty Pvt Ltd and Harish Infra Pvt Ltd.