Earned money ethically, have declared it all: Nilekani

Earned money ethically, have declared it all: Nilekani

Earned money ethically, have declared it all: Nilekani

 Unconventional for a budding politician and suggestive of change in investment, the Congress candidate for Bangalore South Nandan Nilekani has shown that land and gold are not where one should put their money.

Having filed the nomination papers on Friday, Nilekani is likely to be the richest candidate in the upcoming Lok Sabha elections. He and wife Rohini together own assets worth a whopping Rs 7,700 crore. Nilekani appears to have shown every detail of his wealth.

Interestingly, Nilekani has shown to have invested a mere 0.5 per cent of his total assets in gold and land. He has declared Rs 97.84 crore of taxable income in his name and Rs 70.57 crore in Rohini’s.

While their investment in gold and diamond jewellery is Rs 1.82 crore, the Nilekanis’ investment in real estate is Rs 44.28 crore. The bulk of their investment, however, has been in Infosys Technologies Ltd, of which Nilekani is co-founder.

Although Nilekani resigned from Infosys, the couple own 1.58 crore shares in the IT major. The shares are valued at a whopping Rs 6,061 crore. The Nilekanis have also invested in a significant number of mutual funds.

As for liquid assets and fixed deposits, the Nilekanis have declared that they have Rs 116.59 crore with various banks. The couple have said they have no account with any foreign bank.

“I wanted to declare all of my assets as they have been earned in a clean and ethical manner,” Nilekani said. “I have nothing to hide in my life, and I want to continue living in such a manner,” he said.

While filing the nomination papers around noon, Nilekani received a rousing welcome from workers of the Congress party. Accompanied by Rohini whose broken left hand was in a sling, Nilekani entered the returning officer’s office.

Ministers Ramalinga Reddy, D K Shivakumar and MLA R V Devaraj were present on the occasion.