How to go from 8 Lakhs to 77 Crores in 5 years
..and how to go from Rs 77 crores to Rs 365 crores in two years. Read on (emphasis added)..
According to his election affidavit, Jagan Reddy is India’s richest Member of Parliament with declared assets (net of liabilities) valued at Rs 365 crore. Jagan’s wealth would not have been problematic but for the speed with which he acquired it. In 2004, when Jagan’s father YSR Reddy was yet to become the Chief Minister of Andhra Pradesh, he had only Rs 8.19 lakh of assets. Clearly, being the son of a Chief Minister is not injurious to one’s acquisitive streak.
Five years later (in 2009), by the time YSR completed his first term as CM, his son’s assets together with that of his wife had jumped to Rs 77.40 crore. Just two years later, he and his wife were worth Rs 410 crore [ source ]
Apparently, this is not the full extent of his assets…There may be more…
India Today profiled Jagan in a story last year, titled “The Prince of Cash“. It mentions his “business strategy” as follows:
Jagan’s business strategy, devised by competent financial advisers led by accomplished Chennai-based auditor V. Vijaya Sai Reddy, is to make huge profits by offloading company shares to mobilise funds, which are later invested in new projects
It is a different matter (and more than a coincidence?) that:
…those who purchased stakes in Jagan’s businesses were allotted land, projects and contracts, including Special Economic Zones (SEZ) by the Andhra Pradesh government led by his father.
The astounding increase in wealth (including a 4x increase in 2 years), does feel like “some kind of magic“, isn’t it? If this is true, I think Jagan’s biggest contribution to the nation could be if he opens up a school/college to teach youngsters how to create such extraordinary wealth in such a short span of time – while of course, paying your taxes in full.
Related Posts: How to earn Rs 50 crores in 5 years and How to earn Rs 10 crores a month
Have you seen his new house with a BIG CROSS!
http://indianrealist.wordpress.com/2011/06/01/jagan-reddys-new-home/
Christianity as propogated by the Church is nothing but imperialism in the cloak of “religion, it’s ultimate goal is to conquer, loot, subjugate and finally exterminate civilizations as it happened in Africas, Europe and Americas. India is right in the cross hairs now. At the top of the pyramid is Catholic Sonia Maino’s loot at 84,000 crores. Brown converted sepoys are trojan horses in this evangelical evil enterprise – it’s BREAKING INDIA everywhere! ( http://www.breakingindia.com/ )
It’s NOT YSR, It’s Y SAMUEL REDDY. I can understand Christian media in India hiding the truth about the corrupt father and son who are converted and hardcore missionaries and still keeping Hindu names but why patriotic bloggers too catching on this? EXPOSE the name and agenda becomes clear.
It is intriguing as to why the press is not going to town with this “not so” rags to “extreme” riches story. Maybe the apprehension voiced by VoP is right. Sharing this with your permission Shantanu.
Crooked people.
Dont ask them to open the school, will try to preach only message of Christianity and will try to influence hindu kids by saying its only because of CROSS I possess this skills and talent. Converted are more prone to show off and make impact on others. Sorry off topics but cant control.
He is the same person with whom BJP is hobnobing to put up a joint front against Congress in next elections !
Moral, always ensure that means are as sacred to your cause as the ends.You have drawn a blank in AP last time, draw it again, but expose these corrupt guys.People will eventually see the truth and flock around you.Till then it could be EKLA CHALO
Fantastic article!!
On similar lines, here is an analysis of MPs from every state in India..
http://www.wahsarkar.com/?p=488
WahSarkar.com is a Hindu-bashing blog. Hope Shantanu can delete the comment by “Seema Singh” which has been spuriously posted to promote the blog.
Hmmmmmmm……………..kuch to badi gad-bad hai…….
@ Jitendra Desai,
The AP BJP is not in Cahoots with Jagan. Their support base and Jagan Support base are entirely different.
Yesudas Samuel RajaShekar Reddy is a Christian. However he used to visit Tirupati with Camera men in tow to fool gullible Hindus. He tried to take away and give 2 hills from the Lord of Seven Hills( Edu Kondala Vadu) Ventakateshwara Swamy and give them to Missionaries. Mercifully he died before that.
There is more than circumstantial evidence that real estate companies that illegally benefited from YSR govt’s free land generously invested in JAgans companies. Jagans Sakshi is a loss making entity. Raheja and EMMAR were given several hundred acres each in prime MAdhapur and Gachibolwli location. And in turn they were supposed to give a percentage of profits to the Govt. So far they have not given a Paisa. The current Cong administration cannot do much against Jagan because they are also involved in swindling of the AP citizens.
The true extent of YSR/JAgan corruption will come into picture if there is TDP govt in the state.
Chief Justice Nisar Ahmed Kakru and Justice Vilas V. Afzalpurkar
Keep these names for the record. One of these folks will make it big, as a chairman of many useless committees that Congress promotes. Gulam Nabi Azad came to HYD to talk to these guys to have a CBI probe aganist Jagan and in return promised good posting after they retire. Nothing happens for free in this country…mera bharat mahaan
Is the law finally catching up with Jagan Reddy?
SC allows CBI to probe Jagan wealth and Jagan to face CBI probe as SC dismisses his petition
http://www.telegraphindia.com/1110811/jsp/nation/story_14365991.jsp
Jagan assets probe
OUR SPECIAL CORRESPONDENT
Hyderabad, Aug. 10: Andhra Pradesh High Court today ordered a full-fledged CBI probe into Y.S. Jaganmohan Reddy’s alleged amassing of wealth after a preliminary investigation revealed prima facie evidence of the charges.
Jagan has been accused of having accumulated assets when his father Y.S.R. Reddy was chief minister from 2004 to 2009 and pressuring several companies to invest in his businesses in return for land allotments, mining leases and other favours from the then government.
Hi Shantanu,
I wrote a series of three detailed posts, mentioning all the scams that happened when YSR was at the helm.
Part -1 : http://serious–fun.blogspot.com/2011/09/great-loot-of-andhra-pradesh.html
Part-2 http://serious–fun.blogspot.com/2011/09/great-loot-of-andhra-pradesh-part-2.html
Part-3 http://serious–fun.blogspot.com/2011/09/and-yet-ysr-won-how.html
Thanks,
Sudhir
Hi Guys have a look at this web addresses as mentioned below
http://en.wikipedia.org/wiki/List_of_politicians_in_India_charged_with_corruption
http://en.wikipedia.org/wiki/List_of_scandals_in_India
http://en.wikipedia.org/wiki/Indian_black_money_in_swiss_banks
Regards,
Churchill Kumar