With assets worth Rs 338 crore, DK Suresh’s wealth quadrupled in 5 yrs

Suresh also listed Rs 21,38,000 seized by the IT Department from his residence in Delhi as part of his assets

news Lok Sabha 2019

DK Suresh, the incumbent MP from Bengaluru Rural constituency is seeking to be reelected for the second time. The assets of the incumbent MP and brother of Water Resource Minister DK Shivakumar, has grown close to four times in the last five years.

While his assets were valued over Rs 85 crore in 2014, his affidavit for the upcoming elections states that his wealth is now approximately Rs 338 crore. The valuation increase can be partially attributed to seven new properties he has acquired in these five years.

Businessman and social worker Suresh, has earned Rs 1,87,81,090 in the financial year ending March 2018. His incomes for the previous four financial years have fluctuated from just above Rs 5 lakh to little over Rs 1 crore, with the average being little over Rs 28 lakh.

He has mentioned salary, capital gains, agricultural income and bank interest as his source of income.

In his affidavit, he mentioned the total value of the acquired property including one house worth Rs 15 crore gifted by her mother is Rs 23 crores. He also said, “It may please be noted that the guideline value of all the properties have been revised 4 times in the last 5 years and as such the net asset value has increased.”

However, since 2014 till now, Suresh does not own any vehicle or jewellery, according to his declaration. But his dependent Keshin Suresh owns a Hyundai Creta car valued at Rs 14,80, 865 and jewellery valued at Rs 8,30,000.

Asset details

Including cash in hand of little over Rs 22 lakh, the gross total value of his moveable assets are Rs 33,06,68,208 (Rs 33 crore+) while the same for his dependent is Rs 23,35,582.62 (Rs 23 lakh+). These include seven bank accounts having a total of over Rs 3 crore 23 lakh.

He also owns shares of 14 companies, all valued at little over Rs 2 crore including those in Indian Overseas Bank, Andhra Bank, Suvi Granite, Indian Rock Capital among others.

He has also listed Rs 21,38,000 seized by the IT Department from his residence in Delhi as a receivable amount.

In moveable assets, he owns 20 parcels of agricultural land costing little over Rs 25 crore. He also owns 28 parcels of non-agricultural land costing over Rs 248 crore. The total value of the seven commercial buildings is Rs 35 crore while the value of his residential properties is Rs 16 crore.

Criminal cases

Suresh is facing five criminal proceedings against him which are all involving illegal forest land usage. He has been booked for quarrying in reserved forest land in four cases while in another he has been accused of erecting electrical line in a reserved forest area. Charges have not been framed in any of the cases.