Bandi Partha Saradhi Reddy has been nominated to the Rajya Sabha by the Telangana Rashtra Samithi.

Bandi Partha Saradhi Reddy: With Rs 5300 crore in family assets, Hetero’s Partha Saradhi Reddy to become richest MP
news Rajya Sabha Friday, May 27, 2022 - 14:06

Hetero Group Chairman and Managing Director Bandi Partha Saradhi Reddy is all set to become India’s richest Member of Parliament with Rs 3,900 crore in assets. He has been nominated to the Rajya Sabha by the Telangana Rashtra Samithi (TRS). However, combined with his wife's assets and that of the Hindu Undivided Family (HUF) that he is karta of, the family's assets come up to Rs 5,300 crore. 

In his affidavit, as part of movable assets, Partha Saradhi had cash in hand of Rs 3.3 lakh, Rs 14 crore in the bank in various forms, Rs 3,407 crore in stocks and investments (including Hetero), Rs 1.35 crore in insurance, Rs 421 crore in loans that were given out, and Rs 13 crore in jewellery and bullion, which comes up to Rs 3,858 crore. A large sum of his investments is in Hetero Labs, Honour Lab, Hetero Drugs, and Hindys Lab. He also has Rs 179 crore in mutual funds and Rs 39 crore in other stock. 

However, he is also the karta of a Hindu Undivided Family as part of which he has Rs 2.3 crore in the bank, Rs 104 crore in investments and stock, and some in personal loans that were given out, adding up to Rs 107 crore.

His wife, Bandi Kalavathi, has Rs 1,249 crore in assets, most of which — Rs 1140 crore —  is in investments and shares as well. While there are several investments, the largest chunks are in Hetero Labs and Hetero Drugs.

As part of his immovable assets, Partha Saradhi has Rs 50 crore and Rs 6.87 crore in immovable assets as part of the HUF. His wife has Rs 27 crore in immovable assets. 

Partha Saradhi is the founder and head of Hetero Drugs, a Hyderabad-based generics pharmaceutical company. Hetero works in the active pharmaceutical industry market and is reportedly the world’s largest 

In September 2021, he and his family were ranked number 58 in Hurun India’s list of wealthiest Indians in 2021, and had a growth of 88%. The report pegged the family’s wealth at Rs 26,100 crore. 

The Income Tax Department raided the group in 2021, at which time unaccounted income of Rs 550 crore reportedly was discovered and over Rs 142 crore in cash was seized. "During the search, several bank lockers have been found, out of which 16 lockers have been operated. The searches have resulted in the seizure of unexplained cash amounting to Rs 142.87 crore, so far," the Central Board of Direct Taxes (CBDT) had said in a statement. "Unaccounted income unearthed is estimated to be in the range of about Rs 550 crore till now," it had said.

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