BRS MLA candidate owns assets of Rs 227 crore

Hyderabad, Nov (IANS) Pailla Shekar Reddy of Telangana's ruling Bharat Rashtra Samithi (BRS), who is seeking re-election from Bhongir Assembly constituency, has assets of Rs 227 crore while another candidate Marri Janardhan Reddy owns assets of more than Rs 112 crore.

They declared the assets in the affidavits submitted to the Election Commission while filing nominations for the November 30 election.

Both are into real estate business and are partners along with Medak MP K. Prabhakar Reddy, who is contesting Assembly elections from Dubbaka constituency.

Prabhakar Reddy, who is recovering from injury he received in a stabbing attack last week, is yet to file his nomination.

Shekar Reddy has movable assets of Rs 120 crore while his wife P. Vanitha owns Rs 4.36 crore. These include cash, bank deposits, shares in SLS Properties Pvt Ltd, vehicles, gold jewellery.

Shekar Reddy also owns immovable assets with current market value of Rs 38.50 crore while his wife has immovable assets worth Rs 63 crore.

The 56-year-old, who was elected twice from the constituency in 2014 and 2018, has also declared liabilities of Rs.90.61 crore while that of his wife are Rs 22.13 crore. In 2018, he had declared assets of Rs 91 crore while his liabilities were Rs 25 crore.

Shekar Reddy is business partner of BRS MLA from Nagarkurnool, Marri Janardhan Reddy, who has movable assets of Rs 70.87 crore while his wife Jamuna has assets of Rs 15.38 crore.

Janardhan Reddy, who is seeking re-election for third term, also owns immovable assets worth Rs 8.16 crore. The immovable assets in the name of his wife are worth Rs 17.80 crore.

The couple has total liabilities of Rs 26.51 crore.