TDP leader Nara Lokesh declares family assets, challenges YSRCP govt to prove it wrong

The TDP general secretary Nara Lokesh announced the assets of his family, including that of his father and party chief N Chandrababu Naidu, challenging the ruling YSR Congress Party (YSRCP) to prove it is more than the amount declared by him. Lokesh also said none of the allegations of disproportionate assets against his family was proved.

Amaravati:Telugu Desam Party chief N Chandrababu Naidu grew richer by about Rs 87 lakh as his net assets touched Rs 3.87 crore but his liabilities stood at Rs 5.13 crore on account of a housing loan.

Their son and TDP general secretary Nara Lokesh on Thursday announced the assets of his family, including that of his father and party chief N Chandrababu Naidu, challenging the ruling YSR Congress Party (YSRCP) to prove it is more than the amount declared by him.

His wife Bhuvaneswari, who heads the family's Heritage business, saw an increase of over Rs 8 crore in her fortune with the net assets being Rs 39.58 crore.

Interestingly, Lokesh said that he became poorer by Rs 2 crore compared to last year as the value of his net assets shrunk to Rs 19 crore. He had liabilities to the tune of Rs 5.70 crore.

His son Devansh is now richer than Lokesh with net assets of Rs 19.42 crore without any liabilities.

Lokesh's wife Brahmani, who holds an executive position in Heritage, too became richer by over Rs 4.5 crore since last year, with net assets of Rs 11.51 crore.

"This is the ninth consecutive year in which we are declaring our assets. This process of declaring assets was started by Chandrababu Naidu. We will continue this irrespective of whether we are in power or not. It is important to do so to bring transparency in the system. The current administration came into power almost nine months back. They are unable to prove anything. The value of the assets have been declared at the acquisition cost," Lokesh told ANI here.

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"The value of these assets is disclosed at the rate at which they were bought and not the current market price as the present value could rise or fall based on several socio-economic factors," Lokesh told.

Lokesh also disclosed the total assets of Nara Devansh to be Rs 1,942.16 lakhs and that of Nirvana Holdings Pvt Ltd -- a firm owned by the family -- as Rs 910.96 lakhs.

Lokesh said that the failure of the YSRCP in proving any links of TDP with the alleged insider trading and acquiring lands through benami, even after completion of nine months period, "meant that they had done nothing wrong".

"The saddest part is that the person making the allegations has 11 chargesheets on him. CBI has clearly stated that he has stolen Rs 43,000 crore from the state. Why are they not responding? Why do you not declare the assets like us? At the acquisition price, just like us," he added.

Asked about the IT raids on people close to TDP, he reiterated that nothing has been proven against the former personal secretary of Naidu.

Nirvana Holdings, the family's investment company, too, saw an increase in its net assets from Rs 6.8 crore to Rs 9 crore but its liabilities stood at Rs 34.85 crore, according to Lokesh.

Lokesh also said none of the allegations of disproportionate assets against his family were proved.

"We challenge anyone to prove if the Nara family had even one rupee more than its declared assets," he added.

(WITH INPUTS FROM AGENCIES)