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Karnataka Legislative Council Polls: Meet the Billionaire Candidate with Rs 1,744 Crore Belongings

Bengaluru: He could have been somewhat identified title within the get together circles however Congress’ Yousuf Sharif has now received all the eye on him, because of a declared household price of over Rs 1,000 crore, made in his ballot affidavit for the December 10 Karnataka Legislative Council polls.

Sharif, a multi billionaire who was earlier into promoting scrap earlier than foraying into actual property, has declared belongings belonging to him and his household price over Rs 1,744 crore, making him arguably the richest candidate among the many lot.

The 54 year-old businessman is contesting from the Bangalore City native authorities’ constituency, and was not a lot identified within the get together circles till his title was introduced. Sharif is often known as ‘Gujari Babu’ or ‘Scrap Babu’, in an obvious reference to his stint in scrap-dealing.

A local of Kolar Gold Fields, within the affidavit filed earlier than the Election Fee alongside along with his nomination papers, Sharif has said he has studied until Class V on the native authorities faculty, has two wives and 5 children-a daughter and 4 sons.

He has declared Rs 97.98 crore movable and Rs 1,643.59 crore price immovable belongings in his title. Whereas his first spouse has Rs 98.96 lakh movable and Rs 1.30 crore price immovable belongings, the second partner has Rs 32.22 lakh price movable belongings. The remaining is within the title of his youngsters.

He has liabilities of Rs 67.24 crore. He has over Rs 16.87 crore in varied financial institution accounts and Rs 17.61 crore as investments in bonds, debentures or shares; whereas his wives have Rs 16.99 lakh and Rs 20,681 respectively of their financial institution accounts, and investments price Rs 1.60 lakhs and Rs 75,000.

The household has automobiles price over Rs 3 crore that embody one Rolls Royce automotive and two Fortuners, and jewelry, bullion or valuables price Rs 3.85 crore.

Sharif mentioned he has 4 instances pending towards him on the metropolis’s police stations, three of which he claims had been based mostly on allegations made whereas growing property. He has additionally mentioned the Earnings Tax division had searched his premises earlier and concluded the evaluation by levying complete dues of Rs 13.43 crore, towards which he has appealed earlier than Commissioner Earnings Tax. It has been admitted, however listening to is but to be held.

With a 2016 newspaper report stating Sharif was arrested by the Central Crime Department (CCB) police for misbehaving with a lady authorities official within the Income division, the BJP in a tweet mentioned, “what kind of a person has got Congress’ legislative council election ticket.”

It additionally took intention at state Congress chief D Ok Shivakumar for searching for to ship an individual “who was behind bars for misbehaving” to the “House of Elders”. Sharif was additionally mentioned to be related to the gold mining trade, by having a mill tank to purify uncooked gold, when KGF was operational.

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