Nara Chandrababu Naidu is famous for announcing their family earning openly to the public. But hardly people believe them. The leaders of the opposition several times alleged that the earning of Babu and his family could run into thousands of crores, they just give the amounts in hundreds of crores.
While the people think the real earning of Lokesh and family could be more than the declared ones,the value of assets of Nara Lokesh, Telugu Desam Party general secretary and son of Andhra Pradesh chief minister N Chandrababu Naidu, has gone up by a mind-boggling 23 times in a span of five months.
Nara Lokesh, who is being groomed to be the next chief Minister of Andhra Pradesh, filed his nomination papers for an MLC seat , submitted an affidavit to election authorities, indicating that the total value of his assets is around Rs 330 crore, including Rs 273.84 crore in the form of shares in Heritage Foods, fixed assets worth Rs 18 crore and ancestral property worth Rs 38.52 crore.
The details of the value of assets furnished by Lokesh to the Election Commission are in sharp contrast to the assets declared by him in public on October 19, 2016.
As part of “transparent” declaration of his family assets every year, he said the total value of properties owned by him was only Rs 14.50 crore, including Rs 2.52 crore in the form of shares in Heritage, Rs 1.64 crore worth shares in other companies and a car worth Rs 93 lakh. He also declared that he had taken loans of Rs 6.35 crore.
Earlier, the Heritage Foods sold its retail business wing to Kishore Biyani-led Future Retail Ltd on November 8 last and retained only 3.65% stake worth Rs 295 crore in it. Yet, the value of shares held by Lokesh in the Heritage Foods has gone up from Rs 2.52 crore to Rs 273.84 crore.a
