Ex-MLC Kavitha's wealth doubled in a span of 3 yrs, holds liabilities worth Rs 31 Cr

Hyderabad : Telangana Chief Minister K ChandraShekar Rao's daughter and former MLC Kalvakuntla Kavitha filed her nomination papers for Member of Legislative Council from Nizamabad local authority constituency (LAC). The 43 year-old is contesting as MLC for the second time.

Along with the former MP and Nizamabad MLC- Kavitha, six other TRS candidates filed their nomination to the local authorities constituency on 23rd November.

The election affidavit sourced by NewsMeter, revealed that the assets of the Kavitha doubled in a span of 3 years.

The movable assets of K Kavitha stands at Rs 14.78 Cr while that of her spouse Anil Kumar Devanapalli is Rs 14.04 Cr. Her two sons Aaditya Devanapalli Ramayagari and Aarya Devanapalli owns properties worth Rs 6.86 Lakh and Rs 2.04 lakh, respectively. Together, the value of immovable assets owned by Kavitha's family is Rs 28.92 crore.

It is pertinent to mention that, during 2019 General election, Kavitha informed the election office that her 'total' (movable + immovable) assets are worth Rs 7.63 Crore while her husband- a businessman owned Rs 9.73 Crore wealth. It goes without saying, that Kavitha's investments grew multi-fold in the last 3 years.

Kavitha's investments

Former MLC Kavitha's investments include Rs 4.99 Cr in Struktur Developers private limited. The construction company is represented by directors Ram Kishan Rao Ramayyagari, Arun Kumar Devanapalli Ramayagari.

Besides, Insurances, shares; Husband Anil Kumar's major investment lies in Relixir Pharmaceuticals (partnership investment of Rs 9.21 Cr) and Rs 3.64 Cr is in Asyapattra Inventures.

The pharma company, Relixir, was incorporated in 2011 with its head office in Hyderabad. The company has two directors: Anil Kumar, the longest-serving board member, and co-director Vinutha Mandula. Relixir is connected to seven other companies through its directors. However, it does not reflect in the affidavit. Also, Mr Anil Kumar is a director of eight companies .

Kavitha's immovable assets

Chief Minister KCR has gifted his daughter land, measuring 10 acre 16 guntas, at Malleboinapally Jadcherla in Mahbubnagar district. Kavitha and her husband together own agricultural land in Nizamabad, Mahbubnagar, Karimnagar, and Siddipet, and also commercial buildings in MG road in Secunderabad, Trendz JR in Madhapur.

The couple also own residential properties in Hyderabad bringing their total immovable assets to Rs. 10.87 crore. Meanwhile, their liabilities are worth Rs. 31.62 Crore. They are in form of unsecured loan and advance of sale of properties.

Kavitha, though has spent more than two decades in active politics, identifies her self as a business woman and her major source of income comes from properties and agriculture. The young political holds a Bachelors of Technology Degree from VNR VJIET, Jawaharlal Nehru Technical University.

Her Income tax returns disclose that, when Kavitha was in a parliamentarian, her total income grew from Rs. 19.16 crore in 2015 to Rs. 28.21 crore in 2019. It further grew to Rs 31.72 Crore in 2020- the year she was elected as an MLC. However, the latter's income dropped to Rs 11.29 Cr in 2021.

Cases

Charges against Ex-MLC Kavitha have been pending in two cases before the district magistrate. The latter was booked during pro-Telangana agitation and pro-Samaikya Andhra protests.

Assets : Value of movable properties owned by

1. Kalvakuntla Kavitha Rs 14.78 Cr

2. Anil Kumar (spouse) – Rs 14.04 Cr

3. Aaditya Devanapalli (Son)- Rs 6.86 L

4. Aarya Devanapalli (Son) – Rs 2.04 L

Immovable properties

1. Kalvakuntla Kavitha Rs 5.70 Cr

2. Anil Kumar (spouse) – Rs 5.17 Cr

3. Aaditya Devanapalli (Son)- NIL

4. Aarya Devanapalli (Son) – NIL