Three ‘Richie Rich’ of Telangana Politics Having Assets Over 450 cr Each in Poll Fray – News18

The elections to Telangana State Assembly to be held on November 30 became quite interesting with wealthy politicians having assets worth hundreds of crores of rupees in the fray as prospective candidates.

Among them, three candidates Gaddam Vivekanand, Ponguleti Srinivas Reddy and Komatireddy Rajagopal Reddy stood at first, second and third places respectively in terms of wealth based on their affidavits submitted to the Election Commission of India (ECI).

Gaddam Vivekanand, Congress candidate from Chennur constituency in Mancherial district has movable and immovable assets worth Rs 606.66 crores. The 66-year-old former, MP who joined the Congress from the BJP before the assembly elections, possesses movable assets worth Rs 328.91 crores including business organizations, cars, bungalows, valuable ornaments and bank deposits. Being the founder and chairman of Visakha Industries Limited he also had shares worth Rs 285 crores in the company. There is a 127 per cent increase in the value of his assets when compared to the value of the assets he announced when he contested Lok Sabha polls from Peddapalli in 2014.

Ponguleti Srinivas Reddy, the Congress candidate from Paleru constituency in Khammam district, has movable and immovable assets worth Rs 461 crores. He won the Khammam Lok Sabha constituency on the YSRCP ticket and later joined the BRS. He was suspended from the BRS on the allegations of taking part in anti-party activities. He joined the Congress in July. He announced the value of his assets as Rs 34 crores in his affidavit submitted to the ECI when he contested the Lok Sabha elections in 2014.

Komatireddy Rajagopal Reddy, the Congress candidate from Munugode constituency in Nalgonda district, stood third with movable and immovable assets worth Rs 458.37 crores. He announced the value of his assets as Rs 314 crores when he contested in the 2018 assembly elections. The value of his assets increased to 45 per cent.

Meanwhile, Telangana Chief Minister K Chandrasekhar Rao has shown his total assets worth Rs 58.93 crores and liabilities as Rs 24.51 crores in the affidavit submitted to the ECI.

But he mentioned an interesting point by stating that he took a loan of Rs 1.06 crores from Congress candidate Vivek Venkataswamy.

Supporting his claim, Vivek also mentioned in his affidavit by stating that he lent Rs 1 crore to CM KCR and Rs 1.5 crore to Munugode Congress Candidate Komatireddy Rajagopal Reddy.

There is a slight difference between the two affidavits submitted by KCR and Vivek on the loan amount and that became a hot topic among the political circles. Vivek mentioned it as Rs 1 crore whereas KCR mentioned the loan amount as Rs 1.06 crore. There is also an argument that KCR has added the interest amount to the actual loan amount.