Karnataka minister DK Shivakumar declares assets worth Rs 700 crore

Karnataka Energy Minister DK Shivakumar, the richest nominee for the ensuing state Legislative Assembly polls, has declared assets worth over Rs 700 crore, according to the poll affidavit filed on Thursday.

As per the nomination papers filed at the Kanakapura Assembly segment in Ramanagara district, about 55 km from Bengaluru, Shivakumar, 55, declared his income and assets and that of his wife, Usha's, to be Rs 730 crore.

The state's Energy Minister has reported an increase in wealth of Rs 589 crore since the 2013 assembly polls. In 2013 he had declared assets valued at Rs 251 crore.

Shivakumar declared his cash and bank deposits worth Rs 95 crore, immovable assets including commercial buildings and land valued at over Rs 635.8 crore and gold, diamonds and silver valued at over Rs 1.5 crore, among other assets.

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Additionally, he also disclosed 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 alleged tax evasion.

Over 100 IT sleuths had raided Shivakumar's aides and kin at over 60 locations in the state, and in Delhi and Chennai, and seized several documents and cash.

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A special court in March granted Shivakumar conditional bail after the IT Department had found the Minister allegedly destroying evidence in three tax evasion cases.

(With inputs from agencies)