Nara Lokesh, who is all set to be the MLC and subsequently the minister of AP and heir apparent of his father Chandrababu Naidu, is in in now news for allegedly wrong reasons. The sudden rise in the assets of Lokesh is said to be the reason behind fresh controversy.
Going into details, Lokesh has filed nomination for MLC on Monday and it’s reported that as per the details provided in his nomination, his assets are valued around Rs 330 Crore. His assets include shares worth Rs 273.84 crore in form of family-run Heritage Foods, fixed assets worth Rs 18 crore and ancestral property worth Rs 38.52 crore. It seems he has loans of Rs 6.27 crore in addition.
With his assets are now valued at Rs 330 Crore and that is in starkly differentiating from his public declaration in Oct 2016, the adversaries of Lokesh are all set to set aim guns against him.
In Oct 2016, Lokesh had declared that he owns properties worth Rs 14.50 crore. They includes Rs 2.52 Cr in form of shares in the family enterprise, Rs 1.64 crore shares in other companies and a car worth Rs 93 lakh. Besides them, he had said that has loans of Rs 6.35 crore.
While his liabilities were reduced from 6.35 Crore to 6.27 Crore in 5 months, Lokesh’s assets saw steep increase from 14.5 Crore to 330 Crore. Naturally, this is now becoming the point of discussion.
Meanwhile, it can be noted that the family-run Heritage’s retail was sold to Future Retail Ltd on November 8, 2016. And Nara family retained only a 3.65 per cent stake. And Lokesh’s shares have gone up to Rs 273.84 crore from meager Rs 2.52 crore.
Even the assets of Lokesh’s wife Brahmini also witnessed hike. While Lokesh has declared that his wife Nara Brahmini’s assets as Rs 28 crore in the election affidavit submitted on Monday, his previous declaration in Oct 2016 saw his wife’s assets as Rs 5.38 crore. However, his son Devansh’s assets remained the same at Rs 11.70 crore.
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