Meet MTB Nagaraj, Karnataka MLC who declared Rs 1609 crore assets, wealth increased by Rs 390 crore in 3 years
MTB Nagaraj: In 2020, when he had filed the nomination for the Vidhan Parishad elections, he declared assets worth Rs 1220 crore in his and wife's name.
Karnataka will go to polls on May 10. Candidates from different political parties have been filing nominations along with an affidavit of their net worth. Meanwhile, Karnataka Minister MTB Nagaraj's affidavit has gone viral because of the massive wealth he declared. On Monday, he filed his candidature from Bengaluru's Hoskote Assembly constituency. He declared assets worth Rs 1609 crore.
Nagaraj said he is a farmer and a businessman. His wife, M Shantakumari, is a home-maker. He has movable assets worth Rs 536 crore. His immovable assets are worth Rs 1073 crore.
In 2020, when he had filed the nomination for the Vidhan Parishad elections, he declared assets worth Rs 1220 crore in his and wife's name. This means in the last two years, his net worth increased by around Rs 390 crore. He has declared that he has a liability of Rs 98 crore.
Who is MTB Nagaraj?
M Nagaraj is an MLC. He is 72 years old. He has studied till Class 9. He has declared that the source of his income is agriculture, paternal properties and business.
M Nagaraj had won the Karnataka Assembly elections in 2018, from the Hoskote seat. However, he quit the Congress the next year. He is one of the 17 MLAs responsible for the collapse of Congress-JDS government in 2019.
In bypolls, he lost to independent candidate Sharath Bachegowda. The winner later joined the Congress. The two politicians are contesting against each other this time.
Nagaraj's election affidavits say he has Rs 64,89,302 cash, his wife has Rs 34,29,445 cash. They have Rs 20,12,31,011 in savings account, Rs 33,08,01,765 in fixed deposits. His wife has Rs 6,16,47,987 and fixed deposits of Rs 1,99,5000.