Rs 9,000 cr just in land? Now that is some asset!

Published on Apr 22, 2004 03:53 PM IST

Nyimthungo Lotha?an Independent candidate for the lone LS seat in Nagaland?has declared in the mandatory affidavit that he owns property worth over Rs 9,000 crore.

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PTI | By, Guwahati

Having a few crore in liquid or fixed assets is just peanuts for most politicians in the North-east, but Nyimthungo Lotha — an Independent candidate for the lone Lok Sabha seat in Nagaland — takes the cake by declaring in the mandatory affidavit that he owns property worth over Rs 9,000 crore.

This declaration makes him the richest Lok Sabha candidate in the country. Lotha is way ahead of the next wealthiest could-be parliamentarian, the Maharaja of Mysore — whose property is approximately worth ‘only’ Rs 1,500 crore. Among others in the fray is controversial lottery baron of Assam, Mani Kumar Subba. Subba is officially worth Rs 45 crore, though his “undisclosed” wealth is believed be over Rs 40,000 crore.

As per his affidavit, Lotha has a 15 sq km estate near Humtso village in Wokha district. The land, he claims, is worth Rs 9,000 crore. Besides, he owns another five hectares of agricultural land worth Rs 5 crore and a house in Humtso worth Rs 4 crore.

Lotha says that the Wokha deputy commissioner had assessed the market value of his land. However, Wokha DC E. Ezung has denied his claim. “This is rubbish. The district administration was not involved in any assessment of land,” he said. “Lotha may have overvalued his property. Land in tribal Nagaland is community-owned.

Lotha, an agricultural engineering graduate from Punjab Agriculture University, completed his master degree from Mumbai University and worked with ICAR in Hyderabad. He resigned to join active politics and launched his Labour Party earlier this month.

Nyimthungo Lotha is one of five candidates in the fray for the lone Nagaland parliamentary seat, where the strongest contenders are the ruling Democratic Alliance of Nagaland and Opposition Congress.

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  • ABOUT THE AUTHOR

    Rahul Karmakar was part of Hindustan Times’ nationwide network of correspondents that brings news, analysis and information to its readers. He no longer works with the Hindustan Times.

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