'Auction' of gold bracelet by Cong leader fetches Rs 20 lakh

Auction of a gold bracelet by former Congress MLA T Jayaprakash Reddy, popularly known as Jagga Reddy, today fetched Rs 20 lakh.

Reddy, who had been gifted the bracelet by senior party leader V Hanumantha Rao, said he would donate the money for farmers' welfare.

Rao, a former MP, presented the gold bracelet to Reddy for successfully organising a public meeting addressed by Congress vice-president Rahul Gandhi at Sangareddy recently.

Rao gifted the bracelet to him following a suggestion made by Gandhi in a lighter vein, Reddy told reporters.

A businessman purchased the bracelet at the auction here for Rs 20 lakh. Reddy said he would donate the money for the welfare of farmers.