Karnataka election: Assets of D. K. Shivakumar, who sheltered Gujarat Congress MLAs in Bengaluru, up Rs 589 cr in 5 years

By: | Updated: April 20, 2018 10:43 AM

Karnataka election: Karnataka Energy Minister D. K. Shivakumar's assets have gone up by Rs 589 crore in the past five year, according to the affidavit filed by the Congress leader while filing his nomination yesterday.

karnataka electionPreviously during the 2013 Assembly polls, D. K. Shivakumar declared his assets worth Rs 251 crore while in 2008, the valuation stood at Rs 75 crore

Karnataka election: Karnataka Energy Minister D. K. Shivakumar’s assets have gone up by Rs 589 crore in the past five year, according to the affidavit filed by the Congress leader while filing his nomination yesterday. Notably, the 55-year-old Congress leader had arranged the stay of 43 party MLAs from Gujarat ahead of the last year’s Rajya Sabha Elections. The declaration, which is biggest so far, states that he possessed moveable and immovable assets worth Rs 840 crore. Previously during the 2013 Assembly polls, he declared his assets worth Rs 251 crore while in 2008, the valuation stood at Rs 75 crore, according to The Indian Express.

Shivakumar, who is considered as a protege of former Karnataka chief minister S M Krishna, has declared movable assets worth Rs 70,94,84,974 and immovable assets amounting to Rs 548,85,20,592. It has been learnt that Shivakumar is a key Congress face and figure in the upcoming Karnataka elections. This is due to the fact that he belongs to Vokkaliga community and was an integral part of the party’s poll campaign.

Shivakumar’s affidavit shows that there are 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 last year. It has been learnt that properties linked to Shivakumar and his associates were searched twice by Income Tax officials. This happened he had arranged the Gujarat MLAs’ staying at The Eagleton Golf Resort to allegedly to prevent BJP’s attempt to poach them and ensure that their votes went to senior Congress leader Ahmed Patel. Tax officials had also claimed to have unearthed over Rs 300 crore of undisclosed income from the senior leader and associates.

Shivakumar has investments across various sectors, including granite exports, real estate, education and cable television through a network of companies run by him and his family members. He also owns large tracts of land around Bengaluru and on its outskirts near Kanakapura. Much of the increase in wealth shown by the Minister is attributed to an increase in the market value of land holdings.

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