Karnataka Minister declares assets at over Rs 600 cr

Elias Hubbard
April 20, 2018

Shivakumar filed an affidavit in the Kanakapura constituency in Ramanagara district, in which he declared assets worth Rs 600 crore under his name, Rs 112 crore under his wife Usha's name and Rs 108 crore under daughter Aisshwarya's name, reported the News Minute. It's the biggest such declaration yet from the over 100 candidates who have filed their nominations so far since April 17. He declared personal wealth of Rs 619.79 crore, which is an increase of 188% since the 2013 Assembly elections when he had declared Rs 215.06 crore. A powerful Vokkaliga leader, Shivakumar declared total assets, including his and his family members, of around Rs 840 crore.

Movable assets under his name are worth Rs 70,94,84,974.32, while immovable assets Rs 5,48,85,20,592, the total coming to Rs 6,19,80,05,566.32, as per the affidavit. The remaining have been shown in the names of his wife and three dependents.

Earlier, he was raided by the Income Tax (IT) Department in August 2017 for alleged tax evasion. Most of the increase has been attributed to an increase in market value in land holdings. The taxmen are said to have recovered undisclosed income of about Rs 300 crore. Anand Singh owns 19 vehicles, including a BMW and 3 Benz cars and one Land Rover, besides a cruise ship.

In his affidavit, Shivakumar also cited the existence of two cases against him, including a recent case filed in an economic offences court by the Income Tax department in the aftermath of the searches carried out a year ago. His liabilities stood at Rs 101.77 crores.

Another candidate, K Manjegowda, a former government servant contesting on a Congress ticket from Holenarsipura, filed his nomination and declared assets worth Rs. 12.3 crore. Manjegowda, who opted for voluntary retirement, has a disproportionate assets case pending against him. When compared, the total wealth is up from Rs 251 crore in 2013 and Rs 75 crore in 2008.

Other reports by Click Lancashire

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