Hyderabad: While Marri Janardhan Reddy, another candidate, has assets worth more than Rs 112 crore, Pailla Shekar Reddy of Telangana’s ruling Bharat Rashtra Samithi (BRS), is running for re-election from the Bhongir Assembly constituency and has assets worth Rs 227 crore.
In their affidavits filed with the Election Commission, they disclosed their assets in connection with their nominations for the election scheduled for November 30.
They are partners in the real estate business with Medak MP K. Prabhakar Reddy, who is running for Assembly from the 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.
In addition, the 56-year-old, who was twice elected from the constituency in 2014 and 2018, reported having liabilities of Rs. 90.61 crore and his wife’s liabilities of Rs. 22.13 crore. He reported having assets of Rs 91 crore and liabilities of Rs 25 crore in 2018.
Shekar Reddy is the business partner of Marri Janardhan Reddy, a BRS MLA from Nagarkurnool, who has movable assets valued at Rs 70.87 crore, and his spouse Jamuna, who has assets valued at 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.
