Tirupati: Roja’s investments in chit firm embarrass YSRCP

Tirupati : Minister and Nagari Assembly constituency YSRCP candidate R K Roja’s election affidavit filed along with her nomination papers put the ruling party into an embarrassing position as her long time association with Margadarsi Chit Fund Pvt Ltd was revealed in it. The government has waged a war against the Margadarsi Chit Fund Company and has been investigating its activities on the grounds of alleged financial irregularities.

Significantly, Roja is considered as a close associate of Chief Minister YS Jagan Mohan Reddy and known for her fire brand comments on the opposition TDP in support of YSRCP. Still, despite the government’s moves against the said Chit Fund Company accusing it of financial impropriety, Roja has been continuing her relationship as a customer with Margadarsi since a long time. It must be noted here that her 2019 election affidavit also showed her association with the firm which has now surprised and embarrassed the YSRCP leaders.

The two-time MLA Roja who is trying to win for the third term, is holding a Rs.39,21,120 lakh chit with number LT030V MA/48 with Margadarsi, according to her own affidavit. Further, her 2019 affidavit showed the details of her chit with Margadarsi. Accordingly, she had a chit of Rs 24,02,380 lakh with LT022V MA/45. This clearly showed her trust in the organisation on which the government has been running a legal battle during the last five years. She is also having another chit of Rs.32,90,450 with Dhanalakshmi Srinivasan Chit Funds in Telangana.

The affidavit also revealed that Roja’s assets along with her spouse R K Selvamani including movable and immovable properties have grown by 46.42 percent since 2019 elections from Rs.8.5 crore to about Rs.12.5 crore. During the same period, her liabilities have also increased from Rs.71.85 lakhs in 2019 to Rs.1.83 crore in 2024. She has nine cars including a Benz car which she bought by obtaining a loan from Axis Bank. Roja is having two triplex houses at Nagari and in Rajendra Nagar Mandal of Rangareddy district and the current market value of these two properties alone amounts to Rs.4,23,84,000, the affidavit revealed. Several agricultural and non-agricultural lands were there on her name and on her husband’s name.