HYDERABAD: Kompella Madhavi Latha, the BJP candidate for the Hyderabad Lok Sabha seat, has declared her family assets worth Rs 221 crore in an affidavit submitted to the Election Commission. According to her income and assets declaration, Madhavi Latha and her husband Kompella Viswanath, and their three dependent children, have movable assets of Rs 165.46 crore. Interestingly, the couple has immovable assets of Rs.55.91 crore. Based on her income and assets declaration, she is one of the richest candidates in Telangana.
Movable Assets And Income
In her affidavit, Madhavi Latha declared that she has movable assets of Rs 31.31 crore including investment of Rs.25.20 crore in listed and unlisted companies. Besides, she has investments of Rs 7.80 crore in Virinchi Ltd and owns gold jewellery worth ₹ 3.78 crore. Her husband has movable assets of Rs 88.31 crore including shares worth Rs 52.36 crore in Virinchi Ltd. Their three dependent children also own total movable assets of over Rs 45 crore.
Madhavi Latha’s affidavit mentions the couple as business persons. The BJP candidate has properties worth Rs 6.32 crore, and her husband’s properties are valued at Rs 49.59 crore. These include buildings and land in and around Hyderabad.
Interestingly, Madhavi Latha has debts of Rs 90 lakh, while her husband owes Rs 26.13 crore. Her income last year was Rs 3.76 lakh, Madhavi Latha’s income during 2022-23 was Rs 3.76 lakh while it was Rs 1.22 crore during 2021-22. Meanwhile, her husband Viswanath earned Rs 2.82 crore last year, down from Rs 6.86 crore the year before.
She also has one criminal case registered against her. The case against Madhavi Latha was registered last week at Begum Bazar Police Station under Indian Penal Code (IPC) section 295-A. She is alleged to have made an inappropriate gesture of drawing an imaginary arrow and shooting at the Masjid located at the circle of Siddi Amber Bazar.
How Rich Is AMIM’s Asaduddin Owaisi?
Meanwhile, her AIMIM rival and sitting Hyderabad MP Asaduddin Owaisi has declared family assets worth over Rs 23.87 crore. In 2019, the AIMIM leader declared of assets worth Rs 13 crore. While he does not own a car, his wife owns movable assets worth Rs 15.71 lakh and immovable assets worth Rs 4.90 crore. Owaisi, however, owns two guns – one NP Bore .22 Pistol and one NP Bore 30-60 Rifle, according to his affidavit.
The AIMIM leader owns no agricultural or non-agricultural land or commercial buildings. His residential building at Shastripuram has been valued at Rs 19.65 crore. Owaisi has another house worth Rs 96 lakh in Misrigunj which was a gift, according to his affidavit.
Madhavi Latha, 49, resides in the twin city of Secunderabad and joined the BJP recently. She is making her electoral debut as BJP candidate from the Hyderabad seat and faces AIMIM MP Asaduddin Owaisi in the elections.