When it comes to wealth, there is no family to beat the mining czars of Bellari, despite a spate of cases and raids by the I-T department a few years ago.
Mining baron Gali Janardhana Reddy’s wife G Lakshmiaruna, 47, who is contesting the May 10 Karnataka election from Ballari City on a Kalyana Rajya Pragati Paksha ticket, has disclosed she and her husband own assets worth ₹250 crore. This includes 84kg diamonds and gold and 437kg silver, and zero liabilities, as per the nominations filed before the Election Commission.
Lakshmiaruna is richer than her husband, but he owns more diamonds and gold. As per the affidavit, while her husband owns 46kg of diamonds and gold, she possesses 38kg of expensive jewellery.
Where is the wealth coming from?
Declaring that she and her husband are into business and agriculture, Lakshmiaruna has invested in a dozen companies in hospitality, travel, mining, aviation and chemical sectors. While she had made investments worth Rs79 crore, her husband’s investments are worth Rs21 crore. Lakshmiaruna owns 93 agricultural properties in Karnataka and Andhra. She attributed the source of income to remuneration, interest, rentals and pension from LIC.
Despite floating an aviation company, they do not own any aircraft or other vehicles. There were days when the Reddys used to shuttle between Ballari and Bengaluru in helicopters and private jets.
Who is Janardhana Reddy?
Janardhana Reddy, who quit BJP and floated Pragati Paksha on Dec 25, 2022, will contest from Koppal’s Gangavati seat in North Karnataka. Reddy nomination showed 19 cases related to illegal mining filed against him. The cases also pertain to tax evasion and disproportionate assets.
Meanwhile, Reddy’s once-close confidante B Sreeramulu filed an affidavit from Ballari and declared assets worth Rs62. 68 crore. The incumbent transport minister’s assets have increased by 238% in five years. His liabilities have also increased from Rs6 lakh in 2018 to Rs5. 1 crore. He has a BMW and a Benz, along with an Ashok Leyland bus.
