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This Reddy will be richest lawmaker once elected
Suresh Dharur/TNS

Hyderabad, June 9
Industrialist-turned-politician G Deepak Reddy will become the richest lawmaker in India if he wins the June 12 byelection to Rayadurg Assembly seat in Andhra Pradesh.

Reddy (39), who owns mining and mineral companies, has declared assets worth Rs 6,781 crore in his affidavit filed before the Election Commission. Reddy, who holds an MBA degree from United States, is the Telugu Desam Party (TDP) candidate from Rayadurg constituency in Anantapur district, one of the most backward regions in the country.

Though a political novice, Reddy comes from a family which has high political connections. He is the son-in-law of JC Prabhakar Reddy, an influential Congress leader and former municipal chairman of Tadipatri in Anantapur whose brother is JC Diwakar Reddy is a Congress MLA and former long-time Minister. He is also a close relative of the state Director General of Police Dinesh Reddy.

Reddy’s assets are several times higher than that of the country’s richest MP YS Jagan Mohan Reddy who also hails from the backward Rayalaseema region. Jagan, who represents Kadapa constituency, had declared assets worth Rs 365.68 crore when he contested and won the seat last year.

The young political aspirant has declared total immovable assets of Rs 6,321 crore while the movable assets, including gold and jewellery, are worth over Rs 460 crore. TDP chief N Chandrababu Naidu chose him as the party candidate because no one else was willing to take on the local heavyweights-- K Ramachandra Reddy of the YSR Congress Party and Patel Venugopal Reddy of the Congress, both of them being influential landlords and mining barons.

A major chunk of Reddy’s assets, as listed in the affidavit, comes in the form of land, most of it in and around Hyderabad.

Wealthy Living

• G Deepak Reddy, who holds an MBA degree from United States, is the TDP candidate from Rayadurg constituency in Anantapur district, one of the most backward regions in the country
• Reddy, who owns mining and mineral companies, has declared assets worth Rs 6,781 crore in his affidavit filed before the EC
• TDP chief N Chandrababu Naidu chose him as the party candidate because no one else was willing to take on the local heavyweights -- K Ramachandra Reddy of the YSR Congress Party and Patel Venugopal Reddy of the Congress, both of them being influential landlords and mining barons