Karnataka rebel MLA's assets grew by Rs 180cr in 18 months

Bengaluru: The assets of BJP candidate for Hoskote, M T B Nagaraj, who is among one of the disqualified Congress MLA, grew by Rs 180 crore in a span of 18 months.

Election affidavits filed by the candidate this year shows that his total assets are worth about Rs 1,200 crore, whereas he had declared assets worth about Rs 1,015 crore during the 2018 assembly polls.

The resignation and absence of Nagaraj and 16 other MLAs from the trust vote led to the collapse of the H D Kumaraswamy headed coalition government and paved way for BJP to come to power in July 2019.

Hoskote is one of the 15 assembly constituencies that is expected to witness a high stake battle for December 5 bypolls in Karnataka.

While the ruling BJP has fielded MTB Nagraj, Congress has fielded Padmavathi, who is the wife of Hebbal legislator Byrathi Suresh.

JD(S) has decided not to field any candidate, and has extended support to BJP's rebel Sharath Bachegowda, who is contesting as independent candidate.

Nagaraj is considered one among the state's "richest politician."

His immovable assets include Rs 417.11 crore in self-acquired property and Rs 2.64 crore in inherited property, while wife has self-acquired property valued at Rs 189.14 crore and her inherited property at Rs 27.50 lakh.

The couple has loans from banks and financial institutions to the tune of Rs 27.90 crore and Rs 1.57 crore respectively.

Nagaraj also owns high-end cars including Prado, Fortuner, Benz, Bolero and Land Rover together worth over Rs 2.54 crore, while wife owns a Porsche worth Rs 1.72 crore.

Interestingly, many have pointed out the 50 odd deposits in his account during the first week of August, soon after the fall of coalition government, most of them worth over Rs 90 lakh.

Defending his assets Nagaraj has said, he had paid taxes for it.

He said he was a businessman and had not joined the BJP for monetary reasons.

On the other hand, Congress candidate Padmavathi along with her husband, Byrathi Suresh, who is MLA from Hebbal have assets worth Rs 424 crore, the election affidavit said.

Padmavathi who is making electoral debut has declared her occupation as business.

She along with her husband have movable assets worth Rs 16.63 crore, while their immovable assets run into Rs 407 crore.

Suresh has major share in the properties.

The couple have cars worth Rs 3.13 crore, they include- Prado, Audi, Hyundai i20, Benz, Innovas and Mahindra jeep.

Sharath Bachegowda, is contesting as independent candidate, rebelling against the BJP, after the party denied him the ticket favouring Nagaraj. He has declared assets worth Rs 138 crore along with his wife Pratibha in his election affidavit.

Sharath, the son of BJP MP from Chikkaballapura, B N Bachegowda, has declared his occupation as public service and business.

He has also declared certain cases pending against him.

(With inputs from PTI)