Ahead of Karnataka polls, BJP candidate declares assets worth ₹1,609 crore

Considered to be one of the richest politicians in the country, Karnataka Minister N Nagaraju (MTB) has declared total assets worth ₹1,609 crore.

Considered to be one of the richest politicians in the country, Karnataka Minister N Nagaraju (MTB) has declared total assets worth ₹1,609 crore, while filing the nomination for May 10 Assembly polls in the state. He filed the papers on Monday as the ruling BJP's candidate from the Hoskote Assembly segment, on the outskirts of Bengaluru.

In his election affidavit, Nagaraju mentioned his profession as an agriculturist and businessman. (Representative Image)

In his election affidavit, Nagaraju, who has mentioned his occupation or profession as agriculturist and business, along with his wife M Shanthakumari, a housewife, together own movable assets worth ₹536 crore.

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The couple's immovable assets are worth ₹1,073 crore, Nagaraju, who is currently a MLC, in June 2020, while contesting the Legislative Council election, had declared assets worth about ₹1,220 crore, along with his wife.

In the affidavit filed today along with nomination, the couple have declared total liabilities of ₹98.36 crore. Nagaraju (72), who has studied up to Class 9, has detailed his source of income as agriculture, house property, business and other sources, and that of his wife also to be house property and other sources.

Nagaraju in the 2018 Assembly polls had won from Hoskote Assembly segments from Congress. He was one of the 17 MLAs who later defected from the party that led to the collapse of Congress-JD(S) coalition government in 2019.

In the subsequently held by-polls, he lost from Hoskote against independent candidate Sharath Bachegowda, who is now with Congress. Both who have turned out to be bitter rivals, are facing each other once again.