Karnataka

Anand Singh incurred continuousloss in the last five years

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As per the affidavit that Anand Singh, Bharatiya Janata Party candidate from Vijayanagar constituency, submitted to the Returning Officer along with his nomination papers on Monday, he has incurred losses continuously in the last five financial years ended on March 31, 2019. However, his wife, Lakshmi Singh, has made some profits in the corresponding period.

The point number 4 in the affidavit that sought the details of income tax return filing has entries indicating a loss of ₹ 1.51 crore in 2014-15, ₹ 60.41 lakh in 2015-16, ₹ 93.51 lakh in 2016-17, ₹ 31.30 crore in 2017-18 and ₹ 68.37 lakh in 2018-19.

His wife, however, earned ₹ 76,450 in 2014-15, ₹ 10.29 lakh in 2015-16, ₹ 1.16 crore in 2016-17, ₹ 16.21 lakh in 2017-18 and ₹ 19.29 lakh in 2018-19.

Mr. Singh’s total movable assets account for ₹ 50.33 crore. They include ₹ 34.85 lakh in cash on hand, ₹ 2.35 crore in bank deposits, ₹ 23.98 lakh investment in bonds/debentures/shares and units in companies, ₹ 6.15 crore investments in NSS, postal savings, insurance policies, personal loans of ₹ 37.34 crore given to others, motor vehicles worth ₹ 1.17 crore and jewellery worth ₹ 2.51 crore.

His wife’s movable assets account for ₹ 13.81 crore. They include ₹ 8.50 lakh in cash on hand, ₹ 2.21 crore bank deposits, ₹ 2.25 crore investments in bonds/debentures/shares and units in companies, ₹ 36.15 lakh investments in NSS, postal savings, insurance policies, personal loans of ₹ 8.03 crore given to others, motor vehicles worth ₹ 1.50 lakh and jewellery worth ₹ 84.98 lakh.

Mr. Singh has immovable assets worth ₹ 9.04 crore and his wife’s property is worth ₹ 50.25 lakh.

Mr. Singh has 11 residential buildings — four in Hosapete, six in Bengaluru and one in Talegaon — and the total value of these property is ₹ 10.30 crore. His wife owns eight residential property — five in Hosapete, two in Bengaluru and one in Udhagamandalam in Tamil Nadu, and the total value is estimated at ₹ 57.63 crore.

Mr. Singh and his wife have liabilities of ₹ 30.84 crore and ₹ 42.64 crore, respectively. Mr. Singh has 15 criminal cases pending against him in various courts.

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Printable version | Dec 7, 2019 7:32:44 PM | https://www.thehindu.com/news/national/karnataka/anand-singh-incurred-continuousloss-in-the-last-five-years/article30018227.ece

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