Karnataka's richest Congress nominee DK Shivakumar is worth Rs 700 crore

Bengaluru: According to the election affidavit documented on Thursday, the Congress party’s wealthiest nominee for the following state Legislative Assembly elections DK Shivakumar has proclaimed wealth worth over Rs 700 crore. 

As per the nomination papers recorded at the Kanakapura segment in Ramanagara area, around 55 km from Bengaluru, DK Shivakumar, the  state’s Energy Minister announced his income and resources and that of his wife, Usha’s, to be Rs 730 crore. 

The Minister’s income and resources have almost tripled since the 2013 Assembly elections when he had announced wealth esteemed at Rs 251 crore. 

Through the affirmation, Shivakumar announced money and bank balance worth Rs 95 crore, fixed assets like commercial buildings and land esteemed at over Rs 635.8 crore and gold, jewels and silver esteemed at over Rs 1.5 crore, among different resources. Moreover, he additionally unveiled the assets and income of his daughter Aishwarya to be over Rs 100 crore. 

The Congress leader was raided by the Income Tax (IT) Department in August 2017 for claimed tax evasion. 

More than 100 IT sleuths had raided Shivakumar’s associates and kin at more than 60 areas in the state, and in Delhi and Chennai, and grabbed a few records and money. 

A unique court in March allowed Shivakumar conditional bail after the IT Department had discovered the Minister professedly destroying evidences in three tax evasion cases.