Om Namo Venkatesaya

Babu To Auction AP's Assets In Telangana

During recent meeting with PM Narendra Modi, AP CM Chandrababu Naidu pleaded for a prompt resolution to the division of assets between AP and Telangana. The AP government also sent a report to the Union home ministry detailing the assets to be distributed between the two states.

The enumeration of AP's assets and liabilities is finished and the final figure of the total assets to be shared have reportedly amounted to Rs 40,000 crore, including Rs 4,500 crore fixed deposits.

The Babu-led government further informed the central home ministry that it is ready to auction its share of lands and buildings located in Hyderabad and other parts of Telangana. As per Supreme Court judgement, the Home ministry must distribute the assets in the ratio of population within two months and the time has passed already.

Meanwhile, the KCR government is planning to move a curative petition on the sharing of assets and liabilities of the joint institutions, which will be challenge by the AP government.