Lokesh declares assets of Naidu and family

Mr. Lokesh declared the family’s assets and liabilities here on Thursday, claiming that it was the seventh consecutive year the family was declaring its assets and liabilities. According to Mr. Lokesh, the family derives its income from Heritage Group, a public listed company engaged in milk and vegetable retailing business. Mr. Lokesh claimed that the value of the assets was based on the rate at which they were acquired.

He said Heritage Group, which was started in 1992, was being operated with utmost transparency, and that the company had received several awards including a couple of national awards. Ms. Bhuvaneswari, who manages the company, was once listed among the top 50 powerful women in the country. Though there were allegations against the company, and inquiries were instituted by the Congress government in the past, none could prove irregularities, as the family was committed to conducting the business in a transparent and ethical manner, he said.

Andhra Pradesh Chief Minister N. Chandrababu Naidu has assets, including bank balances, worth Rs. 37 lakh, and his wife Nara Bhuvaneswari holds properties to the tune of Rs. 25 crores.

Mr. Naidu’s son Nara Lokesh has assets worth Rs. 15.20 crores to his credit, while his wife Brahmani owns properties, including gold and jewellery, estimated at Rs. 15 crores. Mr. Naidu’s Grand Son Devansh holds Rs. 11.54 Crores.

In Hyderabad, their house was demolished and Rs. 4 crores were spent for new house. Provident Fund (Pf) increase to Rs. 30 lakhs, bank loans Rs. 5 crore. Lokesh demanded that the accused should be first declared their assets.

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