Shocking: Malla Reddy Has No Car

Telangana Minister Mallareddy, who is contesting from Medchal Assembly Constituency as BRS candidate, declared his assets and liabilities in his election affidavit. What is shocking is that businessman and educationalist Malla Reddy does not own a car or four-wheeler, as per his affidavit. He however stated that his fixed assets are valued at over 90 crore as per the market value.

In his election affidavit, Malla Reddy declared that the value of the possessed fixed assets (value of land and buildings) is Rs.90,24,08,741. In this his wife Chamakura Kalpana mentioned the value of fixed assets of Rs.38,69,25,565. Minister Mallareddy said that their fixed assets (land, buildings) are in Suraram, Doolapally, Aliabad, Jeedimetla, Yadaram, Gundlapochampally and Kandlakoya.

Also, the debts (loans) taken from various banks are declared as Rs.7,39,94,301, out of which the debts in the name of his wife Kalpana are Rs.4,48,95,098. Also, Minister Mallareddy stated that the movable assets (cash deposits in various banks, fixed deposits) are Rs.5,70,64,666, of which Rs.72,39,185 are related to wife's creation. In the election affidavit, he did not mention the details of vehicles and cash in hand. Interestingly, the BRS election symbol is car and Malla Reddy does not own any car on his name. This became talking point on social media platforms.

2018 Affidavit

During the assembly elections held in the year 2018, Ch. Mallareddy's election affidavit showed the value of fixed assets of Rs.49,26,79,933. Also, Mallareddy stated the value of his fixed assets as Rs.48,85,25,332 in the election affidavit during the 2014 Parliament elections.