Ex-minister worth Rs 40 crore, faces 8 cases

Ex-minister worth Rs 40 crore, faces 8 cases

According to his affidavit filed before the returning officer, the former minister has put the value of his movable assets at Rs 27.77 crore include more than four lakh kg of gold and Rs 59 lakh cash, and immovable assets worth Rs 12.39 crore.

He owns sites, land, houses, under-construction buildings and shopping complex - all worth Rs 9.68 crore - in Bellary, Gadag, Bangalore and other places.  While he has a Rs 1.24-crore Range Rover, his wife, Bhagyalakshmi has Rs 22-lakh Hundai Santro car and Rs 93,000 in cash.

He has invested around Rs 6.61 crore in bonds, debentures and shares, and holds deposits of Rs 40.52 lakh in various financial institutions. His insurance premium and postal deposits total to Rs 9.50 crore and he has extended loan to others to the tune of Rs 8.81 crore. He has also availed loan of Rs 15.04 crore.

He has paid income tax of Rs 44 lakh in the financial year 2010-11.  The BA graduate from Alagappa University has eight cases registered against him, which are at various stages of hearing in courts.

This apart, his wife Bhagyalakshmi owns 2,330 grams of gold worth Rs 30.63 lakh. She owns movable assets of Rs 5.28 crore and immovable assets worth Rs 1.34 crore. Sriramulu has three daughters Rakshita, Dikshita and Ankita and no property stands in their name. However, a Rs 5.75-crore insurance policy has been obtained in the name of his son, Dhanush, according to the affidavit.