Jaganmohan Reddy is worth Rs.416 crore

Hyderabad, April 17 (IANS) YSR Congress party chief Y.S. Jaganmohan Reddy and his wife Y.S. Bharathi Reddy own Rs.416 crore assets.

Jagan, as the young leader is popularly known, has movable assets of Rs.313 crore and immovable assets of Rs.30 crore. His wife has movable assets of Rs.58 crore and immovable assets of Rs.15 crore.

Jagan, who aspires to be the chief minister of Seemandhra or residuary state of Andhra Pradesh, revealed his assets in the affidavit filed along with the nomination papers Thursday for elections to Pulivendula assembly seat in his native Kadapa district.

In 2011 by-election to Kadapa Lok Sabha seat, Jagan had declared assets of Rs.365 crore, besides another Rs.41.33 crore in the name of his wife. This had made him the richest Lok Sabha MP. He was only worth Rs.77 crore in 2009 elections, when he was first elected to parliament.

Jagan quit Congress and floated YSR Congress in 2010, nearly a year after the death of his father and then chief minister Y. S. Rajasekhara Reddy in a helicopter crash.

He was released from jail in September last year, after spending nearly 16 months in jail in quid-pro-quo investment cases.

The Central Bureau of Investigation (CBI) had charged him with entering into a conspiracy with his father and then chief minister between 2004 and 2009 to bestow favours on companies and individuals who made investments in his business. Jagan had termed the cases a political conspiracy against him by the Congress government.

He mentioned in his affidavit 10 cases in which the CBI has already filed the chargesheet. He also gave details of the case booked by the Enforcement Directorate (ED) under Prevention of Money Laundering Act.

Jagan said in the affidavit that he has investment in the form bonds and debentures/shares to the tune of Rs.307 crore while his wife has invested Rs.46.56 crore.

Jagan's liabilities are worth Rs. 2.17 crore while that of his wife are Rs.55 lakh. The couple has liabilities of another Rs.74 crore in dispute with the income tax and other departments.

Like in the 2011 by-election, Jagan declared that he has no personal vehicle.