KomatiReddy RajGopal Reddy and spouse own wealth worth Rs 275 Cr, have investments in Sushee Infra

By Coreena Suares  Published on  10 Oct 2022 12:00 PM GMT
KomatiReddy RajGopal Reddy and spouse own wealth worth Rs 275 Cr, have investments in Sushee Infra

Hyderabad: Congress MLA-turned-BJP leader Komatireddy Rajgopal Reddy, who is facing allegations of receiving a mining contract worth Rs. 18,000 crores from the NDA government , filed his nomination for the upcoming Munugude by-polls on 10 October. The Munugode by-election is scheduled to be held on 3 November, and the results will be announced on 6 November.

According to the affidavit accessed by NewsMeter, the 55-year-old owns assets (movable and immovable properties) worth Rs. 222.67 crores. While his spouse K. Laxmi owns properties worth Rs. 52.44 crores. The total wealth of the couple is worth Rs. 275.11 crores.

Movable assets

According to his affidavit, Rajgopal Reddy and his wife K. Laxmi have investments in family company Sushee Infra and have lent loans in the form of cash to many individuals. It is pertinent to note that the TRS has levelled allegations that RajGopal Reddy owned Sushee Infra has bagged a central government contract worth Rs 18,000 Crore to carry out mining in different Indian states. This regard the TRS has filed a complaint with the Election Commission-Telangana to bar him from contesting elections.

While Rajgopal Reddy owns movable wealth worth Rs. 69.97 crores, his wife owns worth Rs. 3.89 crores. Rajgopal owns 1,080 grams of gold worth Rs. 51 lakhs, while his wife owns 3,996 grams of gold worth Rs. 1.91 crores, 20 kg of silver worth Rs. 13 lakhs, and 30 carats of diamonds worth Rs. 94 lakhs.

Immovable assets- On the other hand, Rajgopal Reddy's immovable assets are worth Rs. 152.69 crores and his wife has immovable assets worth Rs. 48.55 crores. The couple own large parcels of land in Medak, Nalgonda, Ranga Reddy, and has investments in Western Constructions and Cyber Spazio in Banjara Hills, Hyderabad.

Liability-Among the two, RajgGopal has a liability of Rs. 61.54 crores.

Education-The former MLA holds a Bachelor of Arts degree from Osmania University and identifies himself as a politician and businessman.

Break up

Komati Reddy Raja Gopal Reddy - Assets: Rs 222,67,64,742 Crore

K .Laxmi (spouse)- Assets: Rs 52,44,88,417

Total Couple: Rs 275,12,53,159

371% rise in assets since 2019

In 2019, Rajgopal declared assets worth Rs. 300 crores. Income tax payments made up to 2019 indicate that his assets saw a steep rise of 371%. The businessman-turned-politician, Rajgopal was a Lok Sabha MP from 2009 to 2014. In 2018, he was appointed as a member of the Telangana Legislative Council. He went on to win the Munugode Assembly constituency in the 2018 general election.

TRS levels corruption allegations

Rajgopal Reddy filed his affidavit a day after TRS leveled corruption charges against him to the Chief Election Officer and requested the EC to debar him from the Munugode by-poll.

In the complaint, TRS alleged that Reddy was working for the BJP for the last three years when he was a Congress party MLA. After his family held company was awarded Rs. 18,000 crores worth contract by the Central government, led by the BJP, he joined the BJP after resigning from the Congress, alleged TRS.

"The voluntary statements given by Komatireddy Rajagopal Reddy is nothing but admission of a serious, illegal offence involving criminal quid pro quo. His actions were not only immoral in terms of code of conduct for the political leaders and activities but also amounting to criminal offence under Indian Penal Code and under the provisions of Prevention of Corruption Act. Further, he also has committed offences under Representation of People Act and breached the oath taken by him as legislator in 2018," read the TRS complaint.

Further, the party demanded the Election Commission order a criminal investigation. They also urged the commission to initiate proceedings to debar the BJP leader from the Munugode Assembly by-elections.

The battle is between

The ruling party, Telangana Rashtra Samithi, has announced former MLA and constituency in charge Koosukuntla Prabhakar Reddy as its candidate for the by-poll. "CM KCR took this decision after examining the survey reports and opinions of local leaders, activists, district party leaders, and people of the constituency," a statement from the CMO read.

BJP, after a long wait, formally announced former Congress MLA Komatireddy Rajgopal Reddy as their candidate. The by-election was necessitated by his resignation on 8 August. He quit the Congress party and joined the BJP.

Congress announced the candidature of Palvai Sravanthi, and BSP, led by former IPS officer and state president R.S Praveen Kumar, announced Shankara Chari as their candidate. Shankara Chari belongs to the BC community.

Munugode is part of the Bhongir Lok Sabha parliamentary constituency in the Nalgonda district. The constituency has 2,00,956 voters, including 1,02,801 male voters and 98,146 female voters.

In the 2018 election, Congress candidate Komatireddy Rajgopal Reddy defeated TRS candidate Koosakuntla Prabhakar Reddy. Rajgopal Reddy got 97,239 votes (48.90%), Koosakuntla Prabhakar Reddy got 74,687 votes (37.56%) votes, and BJP's Gangidi Manohar Reddy secured 12,725 votes (6.40%).

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