City MLAs J. Krishna Palemar and N. Yogish Bhat doubled their declared assets in five years in office.

In the nominations papers filed on Monday, the former Minister Mr. Palemar disclosed that his value of assets totalled to Rs. 35.21 crore. Before the 2008 Assembly elections, he declared assets worth Rs. 18.41 crore.

Deputy Speaker Mr. Bhat’s modest assets increased Rs. 90 lakh to Rs. 1.78 crore. During the period, he also cleared his loans worth Rs. 17.52 lakh.

Of the total assets of Rs. 35.21 crore, Mr. Palemar has valued his immovable properties at Rs. 31.43 crore. His liabilities came down by Rs. 3.60 crore to Rs. 12.40 crore in 2013.

Mr. Palemar declared Rs. 27.65 crore as the value of immovable property he possesses, while stating Rs. 2.82 crore as the value of immovable assets of his wife, J. Shashikala. His movable assets have been valued at Rs. 3.78 crore as against Rs. 95.28 lakh as the value of that possessed by his wife. He paid Rs. 1.98 crore as income tax for the year 2011-12.

Mr. Bhat’s immovable property was valued at Rs. 69.75 lakh in 2008 while the same has been declared at Rs. 1.39 crore this year. Mr. Bhat declared that he has invested Rs. 14.2 lakh in his business, Chetan Sales Corporation. Similarly, his wife, N. Vijaya Bhat, has invested Rs. 5.2 lakh in Kamashi Traders, a firm in which she’s a partner. Mr. Bhat’s wife has Rs. 5 lakh worth jewellery and Mr. Bhat has Rs. 50,000 worth of jewellery.

Lobo’s Rs. 3 crore

The former Commissioner of Mangalore City Corporation and Congress candidate from Mangalore South Constituency J.R. Lobo has declared total assets of Rs. 3 crore. Of that, his wife, Philomina Lobo, possesses movable assets worth Rs. 22.39 lakh and immovable assets worth Rs. 2.04 crore.

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