Mining baron may be using regular steel plates to eat his food in jail now, but after disclosing his assets to the Lokayukta, one can only imagine the lifestyle he loved
Mining baron may be using regular steel plates to eat his food in jail now, but after disclosing his assets to the Lokayukta, one can only imagine the lifestyle he loved
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Galli Janardhana Reddy, who is currently in CBI custody for a multi-crore scam, really lived like royalty and accumulated gold, diamonds and silver, apart from cash and other assets valued at several hundred crore.
Janardana stated that his family's assets are
worth around Rs 378.30 crore
He may be currently using aluminium or stainless steel plates and spoons to eat his food out of in jail while the investigations continue, but one can only imaging what a lifestyle he was used to before the law caught up with him.
From his golden throne and belt, to his wife Lakshmi Aruna's gold ice cream spoons and gold hairpins, the family appears to have been living it up in style.
Inside story
Janardhana has now revealed that he used to avail loans and also lend money to his wife to hoodwink the income tax department.
These revelations came to light while he declared his assets, which he submitted before the Lokayukta.
Janardana, while giving details of his assets, said that he availed a loan of Rs 1.8 crore from his wife Lakshmi Aruna, while lending her Rs 8 crore in turn.
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He has also mentioned in the submitted documents that he and his wife are heavily indebted with loans of Rs 23.09 and Rs 20.35 crore.
Despite this, the couple has lent out Rs 11.27 crore to some companies, which they apparently own.
Asset details
The mining baron owns a helicopter, apart from having five high-end cars and around a dozen Scorpios and Boleros.
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In the sworn statement for financial year 2010-2011 submitted before the Lokayukta, he stated that his entire family owns assets worth around Rs 378.30 crore.
In his statement for 2009-2010, he said he had assets worth about Rs 330.07 crore and showed assets worth Rs 162 crore.
His wife's assets are stated to be worth Rs 145.14 crore, his daughter Brahmini has assets worth Rs 9.60 crore and his son Kiriti has Rs 13.63 crore worth of assets.
In the 2010-11 statement, he had Rs 144 crore worth of property, his wife has Rs 230 crore worth of assets, Brahmini has Rs 4.25 crore worth of property and Kiriti has Rs 8 lakh worth of assets and bank balances.
Surprisingly, Janardana's asset worth has decreased to 15 crore for 2010-2011. Another interesting point is that Kiriti has gifts worth Rs 2 crore.
He has also mentioned that he has an annual income of Rs 6.06 crore in way of salary, Rs 18.18 lakh rental income (wife's name), Rs 18.28 crore and Rs 45.96 crore from business (for both himself and his wife) and Rs 2.36 crore and Rs 2.42 crore from interest he and his wife receive.
In addition, his daughter's interest income is Rs 9.90 lakh and his son gets Rs 6.33 lakh.
Treasure trove
According to details gathered by the Lokayukta, Janardana and his wife have gold and diamond ornaments worth over Rs 28.48 crore and about 1 crore worth of silver articles.
Janardana has to his name, gold articles worth Rs 10.02 crore, while his wife has articles worth Rs 18.47 crore, which was purchased in 2007-08.
Janardana has also shown his 'gold throne', which he had purchased on October 28, 2008 for Rs 2.20 crore, in the assessment statement.
Gold craze
However, he omitted mentioning what the throne weighed. It may be recalled that the CBI has seized the throne when he was arrested from his Bellary residence recently.
He also owns a 'golden belt' valued at around Rs 13.15 lakh, which he was using regularly.
If it is jaw dropping to see what assets Janardana has voluntarily disclosed, it is left to be seen what else he has omitted to show to the Lokayukta and also to see what else surfaces during the investigations.
Added to the list
From his golden throne and belt, to his wife Lakshmi Aruna's gold ice cream spoons and gold hairpins, the family appears to have been living it up in style.
The couple also have gold and diamond ornaments worth over Rs 28.48 crore and about 1 crore worth of silver articles, apart from the five high-end cars and around a dozen Scorpios and Boleros.
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