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Jagan’s poor candidate Butta Renuka: only 161.21 crore assets!

The nomination process has begun in Andhra Pradesh for the upcoming general elections. Several MLA and MP participants filed their nominations yesterday. One of them was Butta Renuka, Yemmiganur MLA participant from Kurnool district.

Recently, during his rally in Siddham, CM YS Jagan Mohan Reddy stated that Renuka is in poor financial status and comes from a humble background.

However, Renuka’s statement proves otherwise. According to the affidavit, Renuka and her husband Shiva Neelakanta have total assets worth Rs. 161.21 crore.

Of this, movable assets are worth Rs. 142.46 crore and immovable properties are worth Rs. 18.75 million. It was stated that Renuka has debts of Rs. 7.82 crores.

The affidavit stated that Renuka possesses 2375 grams of gold, diamond necklaces and other expensive jewelry worth Rs. 2.54 crores. There is 435 grams of gold jewelry in Renuka’s husband’s name.

Renuka and her husband are involved in several business ventures. They run hotels, car showrooms and educational institutions. They also have dealerships for Honda and Tata Motors. They also own an event hall called Butta Convention Hall.

The couple has shares worth Rs. 11.10 crores in Tejaswi Jewellers, Rs. 24 crores in Tejaswi Motors, Rs. 17.46 crores in Butta Hospitality Pvt Ltd and Rs. 59.68 crores in Butta Infrastructure Pvt Ltd.

Three financial crimes are pending against Renuka for violating income tax rules. There is one case against her in Kurnool.

Considering all these assets, people are wondering how Jagan labeled Renuka as a bad candidate.