Source: 
Zee News
https://zeenews.india.com/india/lok-sabha-phase-4-meet-richest-candidate-with-assets-worth-rs-5700-crore-2748802.html
Author: 
Zee Media Bureau
Date: 
12.05.2024

Chandrasekhar Pemmasani is contesting against Venkatesh Roasaya, a Congress Party MLA from Ponnur constituency and the son-in-law of former Union Minister M. Venkateswarlu.

Lok Sabha Elections 2024: The stage is set for the fourth phase of voting in the Lok Sabha elections in 2024. In the fourth phase of Lok Sabha elections, votes will be cast for 96 seats across 10 states. In this phase, a total of 1,717 candidates are in the fray. A candidate from Andhra Pradesh is the richest among them. He is Chandrasekhar Pemmasani, the Telugu Desam Party (TDP) candidate from the Guntur Lok Sabha constituency in Andhra Pradesh. According to the affidavit submitted by Pemmasani to the Election Commission, his total assets amount to Rs 5,700 crore, including movable assets worth Rs 5,598 crore and immovable assets worth Rs 106 crore.

Pemmasani is contesting against Venkatesh Roasaya, a Congress Party MLA from Ponnur constituency and the son-in-law of former Union Minister M. Venkateswarlu. This is Pemmasani's first election. The voting for the Guntur Lok Sabha seat in the fourth phase will take place tomorrow.

Pemmasani describes himself on his social media as a politician, doctor, entrepreneur, and social worker. At 48 years old, Pemmasani is also the founder of the online learning platform YouWorld. He is a medical doctor who completed his MBBS from NTR University of Health Sciences, Vijayawada, in 1999. Additionally, he obtained an MD in Internal Medicine from Geisinger Medical Center, Danville, Pennsylvania, in 2005.

According to reports, Pemmasani has invested in over 100 publicly traded American companies, including Microsoft, Coca-Cola, Uber Technologies, and Apple.

As per the affidavits filed by Chandrasekhar Pemmasani, he has debts of approximately Rs 1038 crore. Additionally, there is a police case registered against him related to illegal payments regarding elections and bribery under the Indian Penal Code. Pemmasani was given the ticket by TDP, cutting the ticket of powerful leader and former director of Amar Raja Group, Jala Jayadev. Jayadev retired from politics before the Lok Sabha elections.

According to the report by the Association for Democratic Reforms (ADR), out of over 1,700 affidavits filed by candidates for the fourth phase scheduled for May 13, a total of 476 candidates are millionaires. Meanwhile, 24 candidates have declared that they do not possess any assets.

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