Jagan’s family’s total assets amount to Rs 510 crore.

Jagan Mohan Reddy declares assets worth Rs 375 crore 31 criminal casesImage: PTI
news Politics Friday, March 22, 2019 - 19:13

YSRCP chief Jagan Mohan Reddy has declared assets worth Rs 375 crore in his election affidavit, whereas his wife has declared assets worth over Rs 124 crore. Their two daughters have assets worth Rs 6.5 crore and Rs 4.6 crore, taking the family’s total assets to Rs 510 crore.

The amount was declared by Jagan who filed his nomination papers with the returning officer for the Pulivendula constituency in Kadapa district on Friday. Jagan, who is contesting from his homeground, has his eyes on the Chief Minister’s seat if his party, YSRCP, manages to win a majority in the upcoming elections scheduled on April 11.

Jagan has declared his profession as politics and public service, whereas his wife Bharathi is a business person. He has also declared liabilities worth Rs 1.2 crore, and that he and his spouse have ‘liabilities under dispute’ in the form of government dues totaling to Rs 66.7 crore and Rs 6.8 crore respectively.

In 2014, his total movable assets were Rs 313 crore while that of his wife were Rs 57 crore. His immovable assets were worth Rs 30 crore and Bharathi’s were worth Rs 14 crore. This meant Jagan’s total assets in 2014 were Rs 344 crore while his wife’s total assets were 72 crore, taking the family’s total assets to approximately Rs 416 crore. This means that the assets of the YSRCP chief’s family increased by close to Rs 100 crore in the last five years.

Assets

According to his self-declared affidavits, Jagan said that his sources of income included his salary as an MLA, his pension from his MP term, rental income, bank interests, and agriculture. He possesses a total of Rs 43,560 cash in hand while his spouse Bharathi YS holds Rs 49,390 in hand.

Movable assets

While Jagan declared that he possesses movable assets worth Rs 3,39,88,99,792 (excluding his cash in hand) while his spouse’s movable assets stand at Rs 92,52,99,962 according to the affidavit. His two children, Harshini Reddy, Varsha Reddy had self-declared movable assets of Rs 6,45,62,191 and 4,59,82,372 respectively.

This includes jewellery under his spouse’s name, who possesses gold and diamond weighing 5.86 kg, amounting to Rs 3,57,16,658 in the market. His two children own gold and diamonds weighing 4.19 kg and 3.46 kg, worth Rs 3,16,13,435 and Rs 3,12,46,415 respectively.

Jagan also has investments in the form of equity shares of unlisted companies including Bharathi Cement corporation Pvt Ltd and investment in mutual funds, totaling Rs 3,17,45,99,618 while his wife, Bharati, has investments totaling Rs 62,35,01,849.

The YSRCP chief said that he did not own any vehicle, but four bulletproof cars were registered in his name in view of ‘stipulation by Ministry of Home Affairs’, which included a BMW X5 and three Mahindra Scorpios.

Immovable assets

As far as land is concerned, Jagan and wife own agricultural and non-agricultural, land along with commercial and residential buildings, whose market value stood at Rs 35,30,76,374 and Rs 31,59,02,925 respectively.

Total assets

This would bring the total assets declared by Jagan to Rs 3,75,19,76,166 and that of his spouse to Rs 1,24,12,02,887. The families total assets amount to Rs 5,10,37,23,616.

Liabilities

While Jagan’s dependents declared that they had no liabilities, he has declared liabilities worth Rs 1,19,21,202. The YSRCP chief also declared that he and his spouse have ‘liabilities under dispute’ in the form of government dues totaling to Rs 66,68,54,338 and 6,75,01,281 respectively.

Criminal cases

Jagan faces a slew of cases against him which are being investigated by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED). Jagan’s affidavit says that he has 31 criminal cases which included sections of the IPC related to defamation, assault and criminal force to deter public servant from discharge of duty, criminal intimidation, defamation, criminal conspiracy, forgery and rioting among others. He also has seven cases under the Prevention of Money Laundering Act (PMLA), and 11 cases under the Prevention of Corruption Act pending against him.

The CBI has filed several chargesheets in the case against Jagan, his aides, former state ministers, IAS officers, corporate entities and businessmen. The case relates to alleged investments made by private firms and individual investors in Jagan’s companies in return for favours they received when his father YS Rajasekhar Reddy was Chief Minister between 2004 and 2009

The ED had earlier said that its investigations revealed that Jaganmohan Reddy laundered the proceeds of his alleged crime through his group of companies which included Sandur Power, Classic Realty, Silicon Builders, Saraswati Power and Industries and 10 other firms in the form of investments, purchase of movable and immovable properties and third party payments.

Jagan’s political history

Jagan Mohan Reddy began his political career in 2009 after being elected as a Member of Parliament from Kadapa. After his father, former Andhra CM YS Rajasekhara Reddy’s death, YSR’s wife Vijayamma and Jagan had a public fallout with the Congress, and formed the YSRCP. Jagan was especially irked as the Congress declined his proposal to be the chosen as Chief Minister of the state, to succeed in his late father’s footsteps.

Jagan was arrested in May 2012 in the DA case when he was an MP. In 2013, the special CBI court had granted conditional bail to Jagan, after he spent 16 months in jail.

In 2014, he was elected as an MLA from Pulivendula, the constituency where he is contesting again.

 

With inputs from Priyanka Richi.

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