In a recent development, Kompella Madhavi Latha, the Bharatiya Janata Party’s (BJP) candidate for the Hyderabad Lok Sabha seat, has declared family assets totaling ₹221.37 crore. This revelation places her among the wealthiest candidates in Telangana.
Madhavi Latha, along with her husband Kompella Viswanath, who are both businesspersons, and their three dependent children, disclosed movable assets worth ₹165.46 crore and immovable assets amounting to ₹55.91 crore. These figures were outlined in an affidavit submitted to the Election Commission during her nomination filing.
Breaking down the assets, Madhavi Latha stated that she holds movable assets worth ₹31.31 crore, including investments of ₹25.20 crore in both listed and unlisted companies. Notably, she has invested ₹7.80 crore in Virinchi Ltd. Additionally, her gold jewellery is valued at ₹3.78 crore.
Her husband, Kompella Viswanath, boasts movable assets of ₹88.31 crore, with shares valued at ₹52.36 crore in Virinchi Ltd. Their three dependent children also collectively own movable assets exceeding ₹45 crore.
On the immovable assets front, Madhavi Latha’s holdings amount to ₹6.32 crore, while her husband’s properties are valued at ₹49.59 crore. These assets include non-agricultural land, as well as commercial and residential buildings in and around Hyderabad.
Despite their substantial wealth, Madhavi Latha reported liabilities of ₹90 lakh, whereas her husband’s liabilities stand at ₹26.13 crore. Their incomes for the financial years 2021-22 and 2022-23 were also disclosed, with Madhavi Latha earning ₹1.22 crore and ₹3.76 lakh, respectively, while Viswanath’s income was ₹6.86 crore and ₹2.82 crore for the same periods.
However, amidst this financial disclosure, Madhavi Latha faces a legal challenge, as she is embroiled in one criminal case. The case, registered last week at Begum Bazar Police Station, is under IPC section 295-A, alleging that she made a gesture simulating shooting an imaginary arrow at a Masjid located in Siddi Amber Bazar.
Madhavi Latha, aged 49 and residing in Secunderabad, recently joined the BJP and is venturing into electoral politics for the first time. Her candidacy brings attention not only to her substantial wealth but also to the legal proceedings she faces, adding intrigue to the Hyderabad Lok Sabha race.
Sources By Agencies
