TDP president Naidu declares assets

Vexed by the media and political  pinpricks, Telugu Desam Party (TDP) president Nara Chandrababu Naidu  on Friday disclosed his assets and those of his family members.

According to Naidu, the Nara family has properties worth only Rs. 37.54 crore.
Naidu surprised both the media and his party men by disclosing his asset base after a politburo meeting of the party held at the NTR Bhavan on Friday morning.

Sources close to him in the party said the TDP president wanted to put an end to the ongoing tirade against him in the media day-in and day-out and by his detractors demanding when Naidu disclose his assets.

As per the audited accounts,  Nara Chandrababu Naidu has assets of Rs.39.38 lakh while his wife Bhuvaneswari Naidu has assets worth Rs. 27.18 crore in her name.

The former chief minister’s son Nara  Lokesh  Naidu has assets of Rs.6.73 crore while the assets in his daughter-in-law Nara Brahmani Naidu’s name is Rs.3.22 crore.

In another disclosure, Naidu said the M/s Nirvana Holdings Pvt Ltd, which is the portfolio of the family estate, comprised of total assets  at  Rs. 15.75 crore as against  liabilities of  Rs. 15.37 crore. He said the net asset value was only Rs. 38.06 lakh.

Naidu also distributed a copy of the balance sheet of the M/s Heritage Foods (India) for the period ending March, 2011, along with his property disclosures to display his transparency in business activities.

Ever since  his outburst during recent interactive sessions with students of several engineering colleges at Visakhapatnam, Vijayawada and Tirupati, the TDP president has been at the receiving end. He had announced that he would soon declare list of his assets.

His remarks had come in the wake of few questions on his alleged ownership of seven-star hotels in Singapore.

“ Let me know if any one has any evidence of such assets abroad, I will gladly give away all my assets, including that of my family, for just Rs. 1,000  crore,” he said in a lighter vein.