Lokesh Explains How His Assets Grew To Rs 330Crs
Nara Lokesh has called on for a sensational press conference. In his first-ever media interaction after filing his nomination, Lokesh has clarified all the rumours surrounding his assets.
Responding to news reports that his assets have ‘grown’ by 23 times in 5 months i.e from Rs 14.5 Crore to Rs 330 Crore, Lokesh said that the value of his assets grew only after the rise of value of his shares of Heritage Foods Limited.
“My declaration of assets last October was based on acquisition value. EC guidelines stipulate that the true market value should be disclosed so I declared the assets’ value as per latest market rates. I had inherited Heritage Foods shares from my father in 1998 and I own 23,66,400 shares and the market value of each share was less than Rs 200 till 2010. Now the share value is around Rs 1,100 which increased the total value of the shares that I own to Rs 273 crore,” he said.
Lokesh didn’t mince words in taking on arch rival Jagan Reddy. “It took 12 months for shares of Jagati to grow from Rs 10 to Rs 1200 whereas it took 20 years for Heritage shares to touch Rs 1100.” Lokesh pointed out that YS Rajasekhar Reddy had been Chief Minister for six years and there were several allegations against Jagan Reddy whereas he pointed out that his family has been in power for over 20 years yet no allegation was against him.
“He has 23 cases (section 420) against him. He is A-1 in 12 chargesheets. He went to jail for 16 months. Because of him 6 IAS officers were jailed and 2 industrialists were jailed. It’s unfortunate that a newspaper owned by such person is spreading false propaganda against me,” Lokesh hit out at Jagan and his paper Sakshi. The TDP’s National General Secretary further questioned that he will decide on whether to move legally against paper or not but he said he called for press conference to clarify to people.
“They’re trying to believe a lie by repeating it 100 times. So, I have to clarify the truth. They had alleged that Chandrababu garu had said ‘agriculture is waste’ and they did wrong propaganda. Even today I challenge whether there’s any video footage or a paper clip about such a statement of him in any media?” Lokesh questioned.
Nara Lokesh added, “TDP is the only political party in our country which has been declaring its assets publicly for the last six years. We have been very transparent in our assets. Why am I now unnecessarily targeted? I need an answer. His paper (Sakshi) is deliberately circulating such false propaganda against me.”
Lokesh concluded saying that he is neither answerable to Jagan or his Sakshi paper whereas he is only answerable to people. He said he is ready for open debate on his assets and Jagan’s assets. He recalled that he had invited Jagan for open debate on assets earlier but he didn’t take up challenge then.