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TDP chief Naidu declares assets

Last Updated: Monday, September 16, 2013 - 23:33

Hyderabad: Telugu Desam President N Chandrababu Naidu on Monday made public the total assets and liabilities of his and his family members, which stood at Rs 41.46 crore and at Rs 28.28 crore respectively.

Every September since 2011, Naidu has been declaring his assets "to be exemplary to others".

Today, he announced the total assets of his own and that of his family--wife, son and daughter-in-law.

The Opposition leader`s personal assets amount to Rs 42.06 lakh, which included Rs 17.33 lakh in savings bank account and a house worth Rs 23.20 lakh. "I have given only the acquisition value of the assets as the market values differ from time to time," he said.

His wife Bhuvaneswari, the main promoter of their family`s business enterprise Heritage Foods, has assets worth Rs 33.05 crore, while her liabilities (bank loans) amount to Rs 15.80 crore.

Besides, Bhuvaneswari and son Lokesh have stakes in Nirvana Holdings wherein their combined assets stood at Rs 25. 41 crore.

"To be exemplary, I have been declaring not only my personal assets but also those of my family members. Probity and transparency are important in public life," the former Chief Minister noted.

Naidu suggested necessary changes in the law to make it mandatory for all elected representatives to declare their assets once a year.


First Published: Monday, September 16, 2013 - 23:33

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