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Madhu Bangarappa’s assets increase two-fold in five years

SHIVAMOGGA

The total value of the assets of the family of Madhu Bangarappa, JD(S) candidate from Shivamogga, has nearly doubled in the past five years. He has declared the value of assets to be Rs. 62.07 crore, up from Rs. 32.68 crore he had declared in the 2013 Assembly elections.

According to the affidavit he filed on Tuesday as part of his nomination papers, the value of assets that Mr. Bangarappa, who has termed himself an agriculturist and businessman, alone owns is Rs. 47.75 crore, including movable assets worth Rs. 10.35 crore. He has also lent Rs. 7.52 crore to Akash Audio, a firm in which he hasinvestments. The family’s liabilities stand at Rs. 15.49 crore now; it was Rs. 15.65 crore in 2013. He also faces a criminal case pertaining to the bouncing of a cheque issued by a firm owned by him.

  1. Shanta, sister of State BJP vice-president B. Sriramulu and the BJP candidate from Ballari, has declared total assets of Rs. 4.62 crore. This, too, is more than double what she had declared in 2009, whenshe contested and won on BJP ticket from Ballari. While she did not own any immovable property in 2009, she has now declared immovable properties, including residential buildings and sites worth Rs. 3.2 crore. While she has declared liabilities of Rs. 17.51 crore now, she had none in 2009.

The Congress candidate from Jamkhandi Assembly constituency, Anand Nyamagouda, has declared total assets worth Rs. 5.25 crore and liabilities of Rs. 27 lakh.

V.S. Ugrappa of the Congress, who will be contesting from Ballari, has declared family assets, both moveable (Rs. 4.01 crore) and immovable (Rs. 10.2 crore), worth Rs. 14.21 crore. He also liabilities running up to Rs. 4.80 crore.

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