Naidu family's assets valued at Rs 41.70 cr

Naidu family's assets valued at Rs 41.70 cr

For the third year in a row, Telugu Desam Party (TDP) leader N Chandrababu Naidu on Monday declared his family assets.

Naidu, who made the announcement at his residence, revealed that his family collectively owned assets worth Rs 41.70 crore. Last year he declared his assets as Rs 35.59 crore while it was Rs 40 crore in 2011.

Naidu's personal assets are valued at Rs 42.06 lakh, up from Rs 31.97 lakh last year.

While his wife, Bhuvaneswari, owns assets worth Rs 3305.02 lakh, son Nara Lokesh owns Rs 492.53 lakh (including cash from selling a property in Bangalore) and daughter-in-law Brahmani has Rs 330.69 lakh.

He said he would hand a share of his property if anyone could prove that he owns more than what he had declared.

The TDP leader said Heritage owned by him had been managed with utmost transparency and had been registering steady growth. The company’s turnover had grown 15 per cent this year.

Naidu said it paid 30 per cent as dividend.  He asserted that the company did not get preferential treatment from any political party or leaders.

Naidu mentioned that declaring his assets was his responsibility and challenged others in public life to follow his example.

He said legislation “is necessary to make it mandatory for those in public life and their families to declare their assets.

The TDP leader criticised corruption in the UPA government and the way it had affected industrial growth.

He also came down heavily on political leaders who earned their wealth through illegal means.