Compared with the 2019 affidavit, his family assets have shot up by 48.61 percent, which is over ₹248.16 crore.
CM YS Jagan Mohan Reddy (Supplied)
Andhra Pradesh Chief Minister and YSRCP chief YS Jagan Mohan Reddy is contesting for the third time from Pulivendla, which was the bastion of his father — the late YS Rajasekhara Reddy.
His party workers filed the nomination form on his behalf on 22 April, as he is currently on a bus yatra as part of his “Memantha Siddham” campaign.
According to the affidavit, YS Jagan’s assets increased from around ₹375.20 crore in 2019 to ₹530.87 crore in 2024.
Meanwhile, his spouse YS Bharathi has seen her assets rise from ₹124.12 crore to ₹176.30 crore in the same period.
Jagan has been out on bail for the past 12 years. According to the latest affidavit, he has 20 pending cases from central agencies like the CBI and the ED alone, having been charged in cases ranging from money laundering to misappropriation of assets.
Now one of the richest politicians in India, Jagan made his electoral debut as a contestant for the Kadapa Lok Sabha seat under the shadow of his late father — then chief minister and Congress leader YSR. In his affidavit during this period, he declared assets worth ₹77.43 crore.
Following his father’s passing and his departure from the grand old party, he contested once more in 2011 from Kadapa, which had fallen vacant after his resignation. This time, he was a candidate from the newly-formed YSRCP.
In a surprising turn of events, his 2011 affidavit revealed assets amounting to ₹365 crore, marking a staggering increase of over 350 percent from his declaration during the 2009 Kadapa Lok Sabha elections.
In 2014, his total assets were valued at ₹343 crore, and his wife’s assets were valued at ₹71 crore.
However, the total value of the Jagan family’s assets in 2019 stood at ₹510.42 crore, with Jagan owning the lion’s share of ₹375.20 crore, followed by his wife Bharati at ₹124 crore.
The value of the assets of their daughters was put at ₹6.5 crore and ₹4.6 crore.
In 2024, YS Jagan declared assets worth ₹530.87 crore, YS Bharathi ₹176.30 crore, and their two daughters collectively ₹51.41 crore.
In the ruling period, the family assets had risen from around ₹510.42 crore in 2019 to ₹758.58 crore in 2024.
Compared with the 2019 affidavit, this was an increase of ₹248.16 crore, or 48.61 percent.
As per 2024 affidavit, Jagan’s family liabilities stand at ₹26.55 crore, with Jagan at ₹1.10 crore, his spouse at ₹7.41 crore, and ₹9.02 crore each for two daughters.
In the details of profession or occupation, Jagan mentioned that he is engaged in “politics and public service”. His sources of income include MLA salary, MP pension, rental income, other income (bank interest, dividend, etc), and agricultural income.
Meanwhile, his wife Bharathi mentions business as her occupation. Her sources of income include salary, rental income, and capital gains, as well as the likes of interest and dividends, besides agricultural income.
Out of ₹530.87 crore as of 2024, Jagan holds equity shares of ₹263 crore in seven companies such as Bharathi Cement Corporation, Carmel Asia Holdings, Classic Realty, Harish Infrastructure, Sandur Power, Saraswati Power, and Silicon Builders.
Bharathi Cement Corporation, in which Jagan and his wife Bharathi hold shares, entered into agreements with at least 30 companies from 2019 to 2024, including the Andhra Pradesh Department of Mines and Geology, and the sale of cement for the state government.
Further, as per the affidavit, Jagan’s highest qualification was a Bachelor of Commerce from Pragati Maha Vidyalaya, Osmania University, Hyderabad. The completion year was 1994.
Jagan was arrested by the CBI in 2012 in an alleged disproportionate assets case. Interestingly, trial is yet to begin in any of the 11 cases registered by the central agency and nine from the ED even after nearly 12 years.
According to the 2019 affidavit, Jagan had 38 pending cases, including seven ED cases, 11 CBI cases, and 19 cases registered at various police stations in Andhra Pradesh and Telangana, along with a defamation case in the Vijayawada MP/MLA Special Court.
In the CBI cases pending against Jagan, he faces charges like criminal conspiracy, cheating, dishonesty, inducing delivery of property, taking gratification, criminal breach of trust, forgery, criminal misconduct by a public servant, and corruption. In the ED cases, he is mostly charged with money laundering.
In the Andhra police station cases, Jagan is charged under different IPC sections, including for statements conducing to public mischief by creating or promoting enmity, hatred, or ill-will between classes, defamation, provoking breach of the peace, and criminal intimidation.
In the two cases filed in Telangana, charges include disobedience of an order duly promulgated by a public servant under the limits of the Kodada Police Station in Nalgonda, and the violation of the Prevention of Insult to Honour Act 1971 under the Saroor Nagar Police Station limits in Hyderabad.
However, according to the latest 2024 affidavit, Jagan has only 26 pending cases against him. Seventeen cases from the 2019 affidavit were either quashed or dismissed.
These cases include one each from the Nandigama, Ponnur, Chilakaluripet, and Pulivendla Police Stations, five from Ananthapuramu, and seven from the Mangalagiri Police Station. All these cases were registered when Jagan was in the Opposition and TDP was in power.
The 2024 affidavit also revealed three new cases from the ED with charges of money laundering filed in 2021, and two from the Nandyala Police Station, involving intentional insult with the intent to provoke the breach of the peace and promote enmity. Both Nandyala FIRs are from 2017, and chargesheets are yet to be filed.
(Edited by Arkadev Ghoshal)
May 03, 2024
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