Nara Lokesh, TDP supremo N. Chandrababu Naidu and the party’s candidate for the Mangalagiri seat, speaks at an election rally. File
| Photo Credit: HANDOUT

TDP supremo N. Chandrababu Naidu’s son Nara Lokesh has declared his family assets worth nearly ₹542.7 crore. Mr. Lokesh is in the assembly poll fray from Mangalagiri segment in Andhra Pradesh where he is set to take on YSR Congress candidate M, Lavanya.

He declared ₹373.63 crore as his family assets in 2019 assembly polls.

The TDP leader holds over one crore shares of Heritage Foods Ltd floated by his family worth ₹339.11 crore at ₹337.85 apiece. His wife Nara Brahmani is currently Executive Director of Heritage Foods.

According to the affidavit, Mr. Lokesh holds ₹314.68 crore worth of movable assets and ₹92.31 crore worth immovable assets while his wife has ₹45.06 crore and ₹35.59 crore assets respectively.

Elections for the 175-member Assembly and 25 Lok Sabha seats in Andhra Pradesh are to be held on May 13.

Twelve of the 20 new companies which bought electoral bonds were from Hyderabad.
| Photo Credit: Akash Dhage/Unsplash

Despite companies in existence for less than three years not being allowed to make political contributions — even through the electoral bonds route — data shows that at least 20 such newly incorporated firms purchased poll bonds worth about ₹103 crore (Table 1).

At the time when they purchased their first electoral bonds, five of these firms were in existence for less than a year, seven of them were a year old and the eight others had only completed two years. Notably, many of these firms were started in 2019 when the Indian economy went through recession or during the middle of the pandemic and bought electoral bonds worth crores of rupees just months after incorporation.

Also read: Electoral bonds data | Full list of donors and recipient political parties

The ban on companies making political contributions within three years from incorporation has been in existence for nearly four decades. In 1985, the Parliament amended Section 293A, lifting the ban on political contributions by firms subject to a few conditions. One of the conditions was that the firms should not be owned by the government and should not be less than three years old. This clause was retained under Section 182 of the Companies Act, 2013. When Section 154 of the Finance Act, 2017, amended Section 182, just before the introduction of electoral bonds, this clause was again retained. However, the amendment deleted the first proviso by which the amount donated by a company was capped at 7.5% of its average net profit during its previous three financial years. The prohibition on companies making donations to political parties in their first three years continued. According to Section 182 of the Companies Act 2013, if a firm makes a donation in contravention to the provisions, “the company shall be punishable with fine which may extend to five times the amount so contributed and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months and with fine which may extend to five times the amount so contributed”.

Table 1 | The table shows the names of the 20 firms which purchased the electoral bonds (EBs), within three years of their incorporation. The date of incorporation of these companies, the date on which they purchased their first poll bond, the difference between the two dates along with the total worth of bonds purchased by these firms is mentioned in the table. 

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Also read: Electoral bonds data | 55 firms’ purchase exceeded 7.5% cap in 2022-24, lion’s share went to BJP

12 of these 20 companies were headquartered in Hyderabad (Table 2). Together these 12 companies donated ₹37.5 crores, and close to 75% of which was encashed by the BRS, with the rest divided among the TDP, the Congress and the BJP. Two companies in Hyderabad — Tsharks Infra Developers Private Limited and Tsharks Overseas Education Consultancy Private Limited — both incorporated in 2023 — purchased ₹7.5 crore worth of bonds within months of getting incorporated and donated it to the BRS. Among the rest, HH Iron and Steel Private Limited, headquartered in Coimbatore, gave ₹15 crores to the BJP and five crores to the BJD. Their first electoral bond purchase was done just days short of turning three years old. Askus Logistics Private Limited, incorporated in November 2021, bought its first electoral bond within 1.5 years of its incorporation and donated ₹22 crores. This was encashed by the DMK, AITC and the RJD. Besseggen Infotech LLP, incorporated in May 2018, bought bonds worth ₹11.5 crores, with their first purchase done two years and ten months into their existence.

Table 2 | The table shows the city-wise split of the 20 companies.

Table 3 | The table shows the party-wise split of the encashments of the EBs purchased by the 20 companies.

Electoral bonds data | New firms bought crores of electoral bonds within months of formation

The three-year rule was retained to prevent shell companies from making political contributions. When the first proviso, which prescribed the 7.5% cap, was removed in 2017, the Election Commission of India had warned that this may lead to the use of “black money through shell companies”. The RBI had also flagged the possibility of firms misusing bearer bonds for money laundering.

The list of 20 firms is not exhaustive as it does not include the firms which were newly incorporated after mergers and amalgamations. The list also does not include firms that are not in the MCA

With inputs from Rebecca Rose Varghese

Watch our Data video:Electoral bonds banned: Which party benefitted the most while it existed?

Rajya Sabha member Y.V. Subba Reddy
| Photo Credit: V RAJU

Rajya Sabha member Y.V. Subba Reddy has alleged that the alliance party Anakapalli Lok Sabha candidate C.M. Ramesh is bringing rowdyism with his activities to Anakapalli district. He alleged that the recent incident at Chodavaram was an example and people from Anakapalli do not want such leaders to rule them.

He made these comments following the Chodavaram police registering a case against Mr. Ramesh and a few others for obstructing the duties of DRO officials.

Speaking to the media here, Mr. Subba Reddy also said that TDP tally has come to zero in the Rajya Sabha and soon it would turn to zero in other elected bodies also, as people were completely against the party.

Later addressing a party meeting with the leaders, MLA and MP candidates in Anakapalli, Mr. Subba Reddy alleged that the TDP was responsible for the problems being faced by the elderly persons in getting pensions during the last few days. He said that the alliance parties have a strong hatred against the volunteers, as the volunteer system introduced by the State government was always with the people helping them in all their needs and bridged gap between people and the government.

He also asked his party workers to continue to their efforts to bring back the YSRCP to power. He said that people were very happy with the welfare schemes and development, which was evident during Gadapa Gadapa ki Mana Prabhutvam programme.

IT Minister Gudivada Amarnath, Deputy Chief Minister and Anakapalli MP candidate from the YSRCP Budi Mutyala Naidu and MLA candidates from various constituencies also spoke.

Amaravati:

The TDP has named Magunta Sreenivasulu Reddy, the father of Raghava Magunta, who is an accused-turned approver in the Delhi excise policy scam case, as a candidate for the Ongole Lok Sabha seat.

Magunta Sreenivasulu Reddy was elected from the Ongole Lok Sabha constituency on a YSRCP ticket in 2019. He deserted the ruling party recently citing “self-respect” issues in the Y S Jagan Mohan Reddy-led party.

The TDP on Friday announced the candidature of Mr Reddy from the Ongole constituency.

Reacting to the allotment of the seat to Srinivasulu Reddy, political analyst Telakapalli Ravi told PTI, “That is the paradox of politics today. While talking about high morals and attacking and criticising others, we forget all the morals in our case.”

Magunta Raghava was arrested in connection with the Delhi liquor scam by the Enforcement Directorate last year. He later turned approver.

The TDP is in alliance with the BJP in the southern state for the upcoming elections.

The Enforcement Directorate is probing the Delhi excise policy scam case. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

New Delhi:

The BJP, N Chandrababu Naidu’s TDP and Pawan Kalyan’s Jana Sena have finalised seats for the upcoming Lok Sabha and Andhra Pradesh Assembly elections late this evening. The BJP will fight in six Lok Sabha and ten assembly seats, TDP will contest in 17 Lok Sabha and 144 assembly seats while Jana Sena got two Lok Sabha and 21 assembly seats. Andhra Pradesh has 25 Lok Sabha and 175 assembly seats that will see a simultaneous contest.

As per sources, the BJP will fight parliamentary elections from Araku, Rajahmundry, Anakapalle, Tirupati, Narasapuram and one more seat while Jana sena from Machilipatnam and Kakinada.

The announcement came after senior BJP leaders, including Union Minister Gajendra Singh Shekhawat, went into a huddle with Mr Naidu and Mr Kalyan on Monday to finalise candidates.

BJP chief JP Nadda announced the alliance of his party with the Telugu Desam Party and the Jana Sena on March 9. “Under the dynamic and visionary leadership of Hon’ble Prime Minister Shri Narendra Modi Ji, the Bharatiya Janata Party (BJP), the Telugu Desam Party (TDP) and the Jana Sena Party (JSP), as well as being committed to the progress of the country and the upliftment of state and people of Andhra Pradesh, have decided to contest the ensuing Lok Sabha and Vidhan Sabha elections together in Andhra Pradesh,” a joint statement released by the TDP BJP and the Jana Sena said.

The TDP, which was part of the BJP-led National Democratic Alliance until 2018, expressed interest in reviving the alliance after suffering a crushing defeat in the 2019 elections. Mr Naidu’s party had walked out of the NDA over financial support for Andhra Pradesh. “I took the decision not for selfish reasons but for the interests of Andhra Pradesh. For four years I made all efforts, went to Delhi 29 times, asked many times. This was the Centre’s last budget and there was no mention of Andhra Pradesh,” Mr Naidu had then explained his decision.

A joint statement issued by the parties highlighted their “old ties”. “The BJP and the TDP have a very old relationship together. The TDP joined the NDA in 1996 and has worked together successfully in governments led by Atal Bihari Vajpayee and Narendra Modi,” it said.

In 2014, the TDP and the BJP fought the Lok Sabha and Andhra Pradesh Assembly polls together, while the JSP supported the two parties, it added.

Yesterday, Andhra Pradesh Chief Minister Jagan Mohan Reddy said that he was ready to fight against the alliance and alleged that Chandrababu Naidu’s cycle is “rusted and he is fetching support from other political parties”.

Elections for Lok Sabha are expected to be held in April-May in which the ruling BJP is eyeing a third term and has set a target of winning 370 seats on its own and 400 with allies.

Hyderabad:

Chandrababu-Naidu-led Telugu Desam Party has reportedly decided to stay out of the electoral battle in Telangana, as reported last week by NDTV.

A decision to this effect is said to have been taken after a meeting of Telangana Telugu Desam chief Kasani Gnaneswar with Chandrababu Naidu inside Rajahmundry Central Jail.

Chandrababu Naidu, arrested for allegedly misappropriating funds from the Skill Development Corporation, is currently lodged in the Rajahmundry Central Jail.

Mr Naidu had reportedly said that with him in jail, it may not be possible for the leadership to campaign in Telangana and therefore the state party chief must explain to the cadre the circumstances.

Even otherwise, with the BJP showing keenness to go with the Jana Sena in Telangana while staying non-committal in Andhra Pradesh on joining hands with the Jana Sena that has declared that it will fight the 2024 elections with the Telugu Desam, has put Chandrababu Naidu in an awkward position.

The Telugu Desam has had a support base in Telangana because of which it won 15 seats in 2014 and two seats in the 2018 assembly elections. The elected MLAs subsequently shifted loyalty to the ruling party.

Supporters of Mr Chandrababu Naidu in Telangana had been upset that the BRS had not given statements condemning the arrest of Chandrababu Naidu and they were not allowed to hold a protest in his support in the Hitech city area.

When some groups said they would consider shifting their vote away from the BRS to the Congress, that had the ruling party leadership worried and then multiple leaders spoke up condemning the manner of Mr Naidu’s arrest.

It is in this context that the BJP reaching out to Pawan Kalyan is significant. The Jana Sena has not been active in Telangana but Pawan Kalyan has a fan base. The BJP could hope that his announcement that he will fight the elections along with the Telugu Desam, could fetch them the votes of the Naidu supporters or at least move it away from the Congress and BRS. 

This time in Telangana the ruling Bharat Rashtra Samithi, fighting to score a hat-trick in the state, is hoping people will go with “Manchiga Chesindu, Malli Vasthadu (He did well, He will come back)” whereas the Opposition is hoping it will be “10 samachralu ichcham. Marusdham (We gave 10 years. Let’s Change)”.

In 2018, Chief Minister KCR suddenly dissolved the assembly and announced his party candidates on the same day, taking competition by surprise. This time too, the BRS announced its candidates in August itself, becoming the first off the blocks.

KCR has expressed confidence that his party would emerge victorious in the upcoming assembly elections, securing between 95 and 105 seats in the 119-member house.

Going all-out, the BJP promised to make a person from the OBC community the Chief Minister if the party comes to power in Telangana.

In the previous Assembly election in 2018, the BRS, previously known as Telangana Rashtra Samithi (TRS), won 88 of the 119 seats, hogging 47.4 per cent of the total vote share.

The Congress came in a distant second with just 19 seats

Telangana will vote on November 30 and results will be declared on December 3.

Hyderabad:

An ugly war of words has broken out between the ruling YSRCP and the Opposition Telugu Desam Party (TDP) with the family members of former chief minister Chandrababu Naidu claiming that he has lost five kg in the last one month in jail, whereas the government claims he has in fact gained one kg, from 66 kg to 67 kg.

Chandrababu Naidu, 73, has been in Rajamahendravaram Central Jail as remand prisoner 7691, since September 10, when he was sent to judicial custody after being named as an accused in the alleged Rs 371 crore skill development scam.

Chandrababu Naidu’s son Lokesh, wife Bhuvaneswari and daughter-in-law Brahmani have all tweeted expressing grave concern over the health of Mr Naidu.

There is an undeniable and immediate threat to CBN’s life. He is being deliberately harmed. His safety is unquestionably at risk.

CBN is facing a dire situation, dealing with mosquitoes, contaminated water, weight loss, infections, and allergies, all without access to timely…

— Lokesh Nara (@naralokesh) October 13, 2023

Nara Bhuvaneswari has said she is worried that if Mr Naidu loses weight by another 2 kg, it could lead to kidney complications. Son Lokesh has said his father has been given steroids that he did not want to take as it could complicate his health condition.

I am deeply concerned for my husband’s well-being, as the Govt of Andhra Pradesh has failed to provide him with the timely medical care he urgently needs while he remains in prison. He has already lost 5 kg weight, and any further weight loss could have severe consequences for…

— Nara Bhuvaneswari (@ManagingTrustee) October 13, 2023

Daughter-in-law Brahmani has said inadequate and unsanitary prison conditions pose a considerable risk to his health and that they are deeply worried about him.

The family had earlier spoken about Mr Naidu suffering a skin allergy and threat of dengue from mosquitoes in the prison.

YSRCP rebel MP Raghurama Krishnamaraju has written a letter to governor Abdul Nazir alleging that there is a threat to Mr Naidu’s life.

TDP spokesperson Pattabhi asked why a health assessment panel had not been formed for Mr Naidu who is an NSG protectee, to take a call on his medical condition. He said they would seek treatment at a private hospital or a well-equipped government hospital for their leader.

In response, the jail authorities today released a health bulletin that suggested that his health parameters were normal. They also said dermatologists had gone in to see him and prescribe medication.

YSRCP spokesperson Sajjala Ramakrishna Reddy dismissed the concerns being raised about Mr Naidu’s health as highly exaggerated. “If someone is critical and on the death bed, then health bulletins are released. Not when they are fit and healthy.”

Mr Reddy said Mr Naidu had been provided a separate barrack because of security concerns, he gets food and water from home and to expect that he would be provided with an air conditioner inside jail is too much.

“It is not his mother-in-law’s house that he will be provided with comforts like an air conditioner. There are thousands of prisoners inside the jail and he is also a remand prisoner who will be treated in a similar manner,” he said.