Lok Sabha Elections 2024: BJP's Hyderabad candidate Madhavi Latha declares assets valued at Rs 218 crore

April 25, 2024 / 09:01 AM IST

BJP nominee Madhavi Latha's family holds liabilities of Rs 27 crore. (Photo courtesy: X)

K Madhavi Latha, the Bharatiya Janata Party (BJP) candidate from the Hyderabad Lok Sabha constituency, made public her family's assets, consisting of both movable and immovable assets, with a total value of Rs 218.38 crore. Furthermore, her family bears liabilities amounting to Rs 27 crore. Latha submitted her nomination papers for the forthcoming Lok Sabha elections set to take place during the fourth phase on May 13.

A renowned classical dancer and entrepreneur, 49-year-old Latha is poised to challenge sitting Hyderabad MP and All India Majlis-e-Ittehadul Muslimeen (AIMIM) leader Asaduddin Owaisi in his stronghold in the upcoming general elections. The BJP's rookie candidate remains undeterred by Owaisi's "larger than life image," asserting that all he has delivered to the constituency is agony, fear, and injustice.

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Latha's husband Vishwanath Kompalle, an alumnus of IIT Madras, serves as the founder of a fintech and healthcare company. According to the election affidavit filed by Latha, the family possesses movable assets valued at Rs 165.46 crore and immovable assets worth Rs 55.92 crore.

The BJP candidate's family holds 2.94 crore shares of Virinchi Ltd valued at Rs 94.44 crore.

Meanwhile, Latha's political opponent, Owaisi, has declared that his family holds assets worth Rs 23.8 crore, as per his submission before the Election Commission of India. The family of the AIMIM chief carries liabilities totalling Rs 7 crore. The incumbent Hyderabad MP holds an LLB degree from London and has five criminal cases against him.

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Earlier, noting the implementation of various welfare programmes by the National Democratic Alliance (NDA) government under Prime Minister Narendra Modi's leadership, such as the promotion of millets, the Vishwakarma Yojana, and the Beti Bachao-Beti Padhao initiative, Latha alleged that such programmes are not being implemented by Owaisi. Additionally, she criticised Owaisi for his lack of support for the uniform civil code and suggested that the Citizenship (Amendment) Act (CAA) safeguards Muslims in India. She questioned his motives for protesting on behalf of Muslims in other countries, implying his outspoken criticism of the CAA.

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The Hyderabad constituency, primarily comprising the old city of Hyderabad with a predominantly Muslim population, has long been regarded as an AIMIM stronghold. Owaisi has secured victory in the constituency for four consecutive terms since 2004. Prior to him, his father Sultan Salahuddin Owaisi had represented Hyderabad in the Lok Sabha for six successive terms spanning from 1984 to 2004. Both Salahuddin Owaisi and Asaduddin have earlier served as representatives of the old city in the legislative assembly.

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