Gold bracelet auction fetches Rs 20 lakh to Congress leader, amount to be given to farmers

HYDERABAD: Realtor Geereddy Mahender Reddy of Krushi Developers and Builders bid an highest amount Rs 20 lakh to win the gold bracelet, the auction which was conducted by Congress former MLA T Jayaprakash Reddy.
The bid amount will be distributed to the farmers who were arrested for alleged ransacking of market yard in Khammam and later hand-cuffed and jailed in Khammam district and also to the farmers in Warangal district.
“Of the total Rs 20 lakh, Rs 11 lakh would be distributed among hand-cuffed farmers in Khammam and remaining 9 lakh to farmers in Nalgonda who are suffering due to non-remunerative prices for their agriculture products.
"I thank Mahender Reddy for Rs 20 lakh,” said T Jayaprakash Reddy after announcing the closure of auction here on Friday.
Jayaprakash Reddy thanked All India Congress Committee vice-president Rahul Gandhi and asserted that the Congress leaders in Telangana would fight for the cause of farmers and expose the failures of TRS to ensure that Congress will get vote bank in 2019.
The original value of the gold bracelet is Rs 4 lakh. The successful bidder is a Congress leader hailing from Kamareddy. In all five bidders participated and the bidding started with Rs 5 lakh in the name of Goddess Durga of Edupayala in Medak district. Jayaprakash Reddy announced Rs 5 lakh as starting price and put the bracelet to auction with media being present there.