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Updated: April 17, 2013 13:04 IST

Moodbidri MLA’s assets rise three-fold

Staff Correspondent
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A file photo of K. Abhaychandra Jain.
The hindu A file photo of K. Abhaychandra Jain.

The value of declared assets of three-time Moodbidri MLA K. Abhayachandra Jain of the Congress has increased by more than three times over the last five years. Total assets possessed by Mr. Jain, his wife and daughter have grown from Rs. 1.59 crore to Rs. 5.35 crore. The combined movable assets of Mr. Abhayachandra, his wife Manjula K and their two children, have swelled from 1.21 crore in 2008 to Rs. 3.7 crore. Value of his immovable assets has grown from Rs. 38.39 lakh in 2008 to Rs. 1.67 crore in 2013. The liabilities also rose from Rs. 1.44 crore in 2008 to Rs. 5.16 crore, according to the declaration made while filing nominations.

Among the notable addition in the assets of Mr. Jain and his wife, both in the transport business, has been the fleet of buses. From eight buses in 2008, Mr. Abhayachandra has added five more including a new one worth Rs. 1.01 crore purchased in 2012. His wife added four more buses taking the fleet in her name to eight. He has purchased a high-end car worth Rs. 18 lakh. He and his wife have purchased an apartment each valued at Rs. 60 lakh.

The assets of BJP MLA from Sullia S. Angara, as declared in the affidavit, have more than doubled over the last five years. His assets are estimated at 91.91 lakh as against Rs. 37.39 lakh in 2008.

Mr. Angara’s movable assets have increased from Rs. 13.39 lakh to Rs. 22.49 lakh. There has been nearly three-fold increase in the value of his immovable assets from Rs. 24 lakh to Rs. 69.05 lakh. His liabilities have fallen from Rs. 11.08 lakh to Rs. 6.84 lakh during the same period.

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