It’s a battle of crorepathis in B’lore Central

In this Lok Sabha election, Bangalore is witnessing a surge of new-age politicians, and Bangalore central is no exception. It has former chief finance officer of Infosys V Balakrishnan battling against youth congress leader Rizwan Arshad and incumbent MP, P C Mohan. JD(S) contestant Nandini Alva adds glamour to the electoral fight.

In terms of candidates, this constituency has more varieties to offer. One is a billionaire, another one is a crorepati with very fast-growing asset, one more though crorepati has not even a single vehicle in his family. Three of the four candidates have cases pending against them.

Asset comparison

 

Movable assets( in Rs)

Immovable assets( in Rs)

Liability( in Rs)

Total asset ( in Rs)

Cases pending

V Balakrishnan

(AAP)

 

180,52,01,822

 

8,90,51,696

 

3,20,000

189,42,53,518

Nil

P C Mohan (BJP)

26,45,16,699

21,12,79,600

26,11,11,284

 

 

 

47,57,96,299

2

Rizwan Arshad

(INC)

71,00,000

2,40,00,000

nil

3,11,00,000

2 (charge not framed)

Nandini Alva (JDS)

4,08,68,868

76,70,06,773

3,78,46,084

807875641

3 (appeal pending)

V. Balakrishnan: Although contesting this election from Aam Aadmi Party, Balakrishnan is not so ‘Aam’ with regard to the assets his family owns. Bala who worked for Infosys for 22 years has declared his total family assets worth 190 crore. Even though he is far behind from his colleague Nandan Nilekani in terms of asset value, he seems to be the second richest candidate from Bangalore. Like Nilekani, Bala too has majority of his assets in the form of shares in Infosys. He has many fixed deposits, mutual funds and bonds. His family has totally six flats and one house with no inherited property. This Charted Accountant is the most qualified candidate of this constituency.

Financial facts    

  • Bala and his wife jointly have totally 11 fixed deposits.
  • He has equity shares worth Rs 102,68,10,920 in Infosys, while his wife has equity worth Rs 16,52,82,500 in Infosys.
  • He has a bank account in USA and Rs 5.26 crore in American Depository Receipts of Infosys Limited.
  • Bala has two cars in his name, including an Audi worth 50,00,000.
  • He owns a house in Basaveshwara Nagar, while his wife and daughters own total six flats. Of these, four flats are in Gokulam Apartments at Kanakapura road alone, where his wife and two daughters have one flat each and one more jointly in the name of his daughters. His wife has total three flats in her name.
  • Former CFO of Infosys is currently chairman of Reservoir Investment Manager.    
  • Family’s total income for the year 2012-13 was 2,45,37,720

P C Mohan: Whatever may be the achievement of this first time MP in the last five years, his asset growth has clearly outperformed his achievement in parliament, so is his liability. In 2009 with property worth Rs 5 crore he was the richest candidate contesting from Bangalore Central. But this time, though his asset has grown five-folds he has come down to second place because of V Balakrishnan.

During 2009 elections, Mohan had declared family asset worth 5.37 crores. In 2013 assembly election his affidavit showed the family asset worth 30.46 crore. Thanks to realty sector, now just after one year his total family asset has grown to 47.57 crores. But the liability has also increased in the same pace. His all three recent affidavits show liability almost equal to his movable asset.

Asset growth of P C Mohan

 

Movable asset

Immovable asset

Liability

Total asset

2009 ( LS Election)

3,83,88,000

1,84,41,000

3,28,87,000

5,37,29.000

2013 (Assembly Election)

18,15,81,650

12,31,02,400

17,69,36,948

30,46,84,050

2014( LS Election)

26,45,16,699

21,12,79,600

26,11,11,284

 

47,57,96,299

Interesting facts:

  • He has Rs 5,58,422 cash in hand.
  • Interestingly, he personally owns jewelry worth Rs 11,32,686 (350gms of gold and 3 kg silver) and his undivided family has Rs 71,74,554 worth (2250 gms of gold and 17 kg silver) jewelry. But his wife has no jewelry in her name.  
  • His family has total 10 savings bank account and one current bank account.
  • Mohan has five cars in his name, including an Audi worth nearly 50 lakhs and Toyota Fortuner worth 23.5 lakhs. He has purchased these two luxury cars in last two years.
  • Mohan and his wife have 2 residential properties each in their name. He has inherited one commercial building and agricultural land.
  • He has two car loans, one housing loan, and three unsecured loans which adds up to whopping Rs 26,11,11,284 as liability.
  • In 2012-13 his total income was Rs 74,88,120
  • Mohan has two pending cases against him.

Rizwan Arshad: The youngest candidate of this constituency is Rizwan Arshad. This youth Congress leader can be called veteran politician when compared to Balakrishnan. But he is modest when compared to his opponents. Declared total asset of his family is 3,11,00,000. While other two candidates who are in the fray travel in super luxury cars, Rizvan doesn’t own even a scooter. 90% of his movable property is in the form of cash (Rs. 46, 00,000).  He has only one bank account in his name.

Interesting facts:

  • Movable assets of Rizvan consists of only cash and jewelry.
  • He has 46,00,000 as cash in his sole bank account and his wife has 6,00,000 in her bank account.
  • He has not invested in any Mutual funds, bonds, shares, fixed deposits or in any insurance policy
  • He or his family doesn’t possess any vehicle.
  • Rizwan and his wife have jewelry worth Rs 5, 00,000 and Rs14,00,000 respectively.
  • Immovable asset of the family consists of two residential buildings. Rizwan and his wife have one each in their name.
  • Two FIRs have been filed against him, though
  • In 2013 -14, his income was Rs 10,38,386.

Nandini Alva: Wife of Janata Dal leader Jeevaraj Alva, Nandini Alva has been fielded by JD(S), in Bangalore Central. She has three cases pending against her in various courts, and has appealed to High Court of Karnataka. The cases are pending in court.

Interesting facts:

  • Nandini has Rs 62,29,500 cash in hand.
  • Total movable assets including jewelry total upto Rs 4,08,68,868.
  • She has four cars – Nissan Xtrail, Bolero, Honda City and a BMW, together worth Rs 53,59,247 as stated by her.
  • She has given personal loans or paid an advance of Rs 98.5 lakhs. Out of this, Rs 42 lakh has been given to M&W Associates, in which she is a director.
  • She shows an investment of Rs 20 lakhs in insurances.
  • Nandini Alva has 5 kg of gold.
  • Total immovable assets are worth Rs 76.7 crores.
  • She has agricultural land worth Rs 21.5 crore, 2,03,752 sq ft of non-agricultural land at Kempapura and Dasarahalli, worth Rs 54 crores and residential buildings measuring 10,000 sq ft add to her wealth.
  • She has a liability of Rs 3.79 crores.
  • For the year 2012-13, she has shown an income of Rs 9,07,580.
  • She has a degree in Arts from Mount Carmel College.
About Arpana H S 0 Articles
Arpana H S is a freelance journalist, with vast experience in broadcast journalism.

1 Comment

  1. I am at present in US and definitely missing the live activities in the run up to the elections .I must compliment and thank the Oorvani Foundation for providing its readers an excellent coverage of all elections news particularly of Bangalore.

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