YS Jagan has Rs.365 Cr. Worth assets

Kadapa: Former MP and president of newly-floated YSR Congress Party Y S Jaganmohan Reddy is perhaps one of the richest politicians in India, with declared assets of Rs 365 crore. It Seems YS Jagan kept a pull stop for the allegations made by opposition parties by declaring his complete assets while filing nominations for Kadapa bypoll.

The son of the late Andhra Pradesh chief minister Y S Rajasekhara Reddy Friday declared movable and immovable assets of Rs 365 crore while filing his nomination for the May 8 bypoll to Kadapa Lok Sabha seat. He submitted an affidavit to the returning officer declaring his assets.

Jagan’s wife Bharati owns assets worth Rs 41.33 crore. He owns houses, land and other property in Hyderabad, Kadapa and Bangalore. Interestingly, Jagan has no personal vehicle.

Majority of Jagan’s assets are in the form of bonds and shares in various private firms, including Bharati Cements and Sandur Power Project Company.

In 2009, while filing nomination for Kadapa Lok Sabha seat, Jagan had declared assets of Rs 77 crore.

Jagan, who resigned from the Lok Sabha seat and the Congress party in November, last year, floated the YSR Congress Party last month.

Both the ruling Congress and the main opposition TDP are targeting him for amassing huge wealth, allegedly through misuse of power between 2004 and 2009 when his father YSR was the chief minister.

In September last year TDP demanded a CBI probe into Jagan’s wealth after he reportedly paid Rs 84 crore as advance tax.

The 38-year-old businessman has interests in cement and power projects in Andhra Pradesh, Karnataka and other states. He also owns Telugu daily Sakshi and the TV news channel by the same name.