S.Jagathrakshakan, former Union Minister and DMK Arakkonam Lok Sabha constituency candidate has disclosed in his election affidavit that he was a past director of Singapore-based company Silver Park International Pte Ltd that is linked to a record foreign direct investment of $3.85 billion in an oil refinery in Sri Lanka. He was a director of the company since its inception on June 15, 2017 to September 15, 2018.
The affidavit said he was one of the subscribers to the memorandum of the company incorporated in Singapore and agreed to take shares, but had not made any payment for acquisition of the said shares till date.
His wife Anusuya agreed to take 45,00,000 ordinary shares (at a value not yet fixed) in Silver Park, but has not made any payment yet. The shares will be purchased under due process of law of the government of India, the affidavit added. The company has not yet commenced full-fledged operations.
Declared assets
The former Minister disclosed assets worth ₹114.7 crore, including that of family members, but said he had no liability.
His wife has a liability of about ₹16.63 crore.
As per the affidavit, he is a director and shareholder in Accord Life Spec Private Limited, Accord Worldwide Private Limited, Jasan Infra Private Limited, Chandrakala Resort Hotels Limited, JR Super Speciality Hospitals Private Limited, Swamikannujagath Holdings Private Limited, AJR Cements Private Limited and Accord Mineral Water Private Limited.
Anusuya is a director and shareholder in Accord Life Spec Private Limited, Accord Worldwide Private Limited, Jasan Infra Private Limited, Chandrakala Resort Hotels Limited, JR Super Speciality Hospitals Private Limited, Swamikannujagath Holdings Private Limited, AJR Cements Private Limited, Accord Mineral Water Private Limited, Jagath Enterprises Private Limited, SLA Constructions Private Limited, Accord Energy Corporation India Private Limited, J Hotels Private Limited, The Chrome Leathers Company Limited and Jam Hotels Private Limited.
Accord Platinum Tyres Private Limited, J. R. Thangamalaigai Private Limited, Ramify Solutions Private Limited, J.R. Goldkindgom Private Limited, Accord Defence Systems Private Limited, in which he is a shareholder and director, are under the process of being stuck off [Registrar of Companies]. Except for Accord Defence, his wife is a shareholder and director in other firms, the affidavit said.
His investment in these companies total about ₹2.06 crore, while his wife's investment comes to about ₹31.85 crore, it added.
