Report suggests that 82% of the ₹931 crore is attributed to Naidu’s wife, Nara Bhuvaneswari, who holds a 24.37% stake in Heritage Foods Ltd. Currently, Nara Bhuvaneswari serves as the managing director of the company.
N Chandrababu Naidu has been declared as the richest chief minister of India, Association for Democratic Reforms (ADR) said in its report on Monday. The chief minister has assets worth over Rs 931 crore.
According to Money control, Naidu became rich after his family’s stake in a dairy firm called Heritage Foods Ltd.
Report suggests that 82% of the ₹931 crore is attributed to Naidu’s wife, Nara Bhuvaneswari, who holds a 24.37% stake in Heritage Foods Ltd. Currently, Nara Bhuvaneswari serves as the managing director of the company.
Heritage Foods Ltd was established in 1992. The company deals in milk and dairy products in retail. The company was listed in the stock market in 1994. It is worth mentioning here that Chandrababu Naidu does not own any share in the company.
Bhuvneswari’s stake Rs 763 crore has been accounted as Naidu’s wealth in the released report by the ADR.
Nara Bhuvaneswari (65) joined the company as full-time director in 1994. She oversees the business and organisational structure of the company. Bhuvneswari Nara earned a bachelor degree in Arts. Chandrababu Naidu’s son Lokesh Nara’s wife Brahmani Nara is the executive director of the company for the last ten years.
