LokSabha 2019: Richest candidates in Mumbai have big loans

Pandurang Mhaske
Wednesday, 10 April 2019

Deora also mentioned his liabilities worth Rs 10 crore 23 lakh, while his wife has a loan of Rs 18 crore 3 lakh.

MUMBAI: The candidate contesting Lok Sabha elections have declared their assets in the nomination forms and surprisingly, Congress candidates Milind Deora and Priya Dutt are richest candidates and also have highest liabilities. 

Mumbai Congress President Milind Deora, contesting the election from South Mumbai, filed his nomination papers before the Election Commission, has individual assets worth Rs 47.33 crore as per the current market value. Deora also mentioned his liabilities worth Rs 10 crore 23 lakh, while his wife has a loan of Rs 18 crore 3 lakh. 

However, Congress candidates Priya Dutt and Urmila Matondkar- both contesting from Mumbai North Central have declared assets worth Rs 87.61 crore and Rs 68.28 crore (as per current market value), respectively, in their election affidavits. Where Priya Dutt has a loan of 3 crore 35 lakh and Urmila has a loan of Rs 32, 65,000. 

Bharatiya Janata Party (BJP) candidate Manoj Kotak (from North East Mumbai) has a loan of Rs 20,48000 while Shiv Sena candidate Rahul Shewale (South Central Mumbai) has a loan and liabilites of Rs 77, 29,000.

MILIND DEORA (Congress candidate from South Mumbai)
Milind Deora has a villa in Malabar Hills worth Rs 13 crore. The value of his wife’s movable assets has increased from Rs 9 crore to a whopping Rs 31 crore. According to Deora’s affidavit, his movable property has increased from Rs 27.66 crore in 2014 to Rs 33.73 crore. Deora’s annual income has gone up from Rs 83 lakh in 2013 to Rs 1.59 crore in 2017. 

PRIYA DUTT (Congress candidate from North Central Mumbai)
As per Dutt’s affidavit, her annual income rose from Rs 51.86 lakh in 2013-14 to Rs 13.13 crore in 2017-18. She has movable assets worth Rs 17,84,01,180 and immovable assets worth Rs 69,77,66,667 (as per the current market rate).

Dutt’s husband Owen Roncon owns assets worth Rs 8.10 crore as per the existing market rate. His movable and immovable assets worth Rs 5 crore 85 lakh 53 thousand 135 and Rs 2 crore 25 lakh.

URMILA MATONDKAR (Congress candidate from North Mumbai)
Urmila Matondkar’s income in 2013-14 stood at Rs 1.27 crore, which more than doubled to Rs 2.85 crore in 2017-18. Matondkar’s movable assets are worth Rs 40.93 crore, mostly invested in mutual funds, gold and diamond jewellery. Her spouse’s movable assets are valued at Rs 32.35 lakh in investments.

According to her affidavit, Matondkar’s movable and immovable assets are worth Rs 40 crore 93 lakh 46 thousand 474 and Rs 27 crore 34 lakh 81 thousand. While her husband owns movable and immovable assets at Rs 32 crore 35 lakh 752 and Rs 30 lakh. Matondkar has a loan outstanding of Rs 32 lakh. The total value of Matondkar’s assets Rs 68.28 crore.

EKNATH GAIKWAD (Congress candidate from South Central Mumbai)
Gaikwad valued his immovable assets at Rs 19.88 crore. His inherited property in 2014 was only a 2.29-acre agricultural land, another property has been added in the new affidavit. The old property’s valuation has gone up from Rs 82.01 lakh to Rs 2.38 cr and the new 60,000-sq ft property in Bhiwandi bought at Rs 3 crore in December 2014, is now valued at Rs 17.5 crore. The value of Gaikwad’s movable assets is Rs 52.02 lakh. His wife Lalita’s assets is Rs 11.63 lakh now. Her immovable assets are worth Rs 1.37 crore. Gaikwad now has Rs 2.14 crore worth of liabilities and his wife has liabilities of Rs 41.5 lakh. The total value of Gaikwad’s assets is Rs 19.88 crore.

MANOJ KOTAK (BJP candidate from North East Mumbai)
Kotak has declared moveable assets worth Rs 97 lakh 48 thousand 883 and his wife has declared assets of Rs 94 lakh 19 thousand 704. He has immovable assets worth Rs 2 crore 25 lakh 58 thousand 570 in his name and there are Rs 1 crore 23 lakh 95 thousand 909 worth immovable assets in his wife, Seema’s name. There are also liabilities (loans) worth Rs 17,48,000 in his name and loans worth about Rs 3,00,000 in his wife’s name.

RAHUL SHEWALE (Shiv Sena candidate from South Central Mumbai)
Shewale has no immovable assets but his movable assets are Rs 1 crore 1 lakh. While he has declared that he has 95% shares in a project management consultancy firm and the remaining 5% are owned by his wife, Kamini Shewale. His wife owns a property at Ghodapdeo, which is valued at Rs 60 lakh.

ARVIND SAWANT (Shiv Sena candidate from South Mumbai)
Sawant and his wife Anuya have stated that his assets are worth Rs 1 crore 1 lakh 91 thousand 354. His wife has movable assets of Rs 1 crore 38 lakh 90 thousand 223.

Related News