Moneybags set to enter Legislative Council, RS

Moneybags set to enter Legislative Council, RS

Businessman Mallikarjun could become the richest MLC

Moneybags set to enter Legislative Council, RS

Karnataka is all set to send one uber rich land developer to the Rajya Sabha, while making space for another in the Legislative Council.

For 48-year-old D U Mallikarjun, it was an opportunity which could not be missed after having received the support of BJP and JD(S), while contesting as an Independent. If elected as an MLC, Mallikarjun may well be the richest representative in the Upper House.

In his assets and liabilities declaration, Mallikarjun has declared combined assets of his family at Rs 263.9 crore. Claiming to be a self-made man, Mallikarjun has shown no ancestral property in either his name or his wife’s name. All his properties are located in Bangalore.

A SSLC pass, Mallikarjun states that he has been working since 1988 and made his life by starting several joint development (JD) infrastructure projects with builders.

“My first JD project was with Adarsh Developers and then with Mantri. I have not earned the assets overnight. Compared to many MPs, who have thousands of crores worth of assets, my assets are valued at just Rs 200 crore,” said Mallikarjun. A father of two daughters, Mallikarjun has declared eight cars including two Mercedes Benz vehicles, one BMW, one Lexus and two Toyota MUVs. He has taken a loan of Rs 18.21 lakh for purchasing the BMW.

Mallikarjun has declared land assets in several high-valued locations like Jakkasandra, Ittamadu, Gubbalala, Attibele, Sarjapura and K R Puram. Mallikarjun has shown liabilities of Rs 64.9 crore.

Kupendra Reddy, 54, who is contesting for the RS polls on a JD(S) ticket, has shown combined assets of Rs 456.04 crore. He is a father of three children and a pre-university pass. Reddy has earned his assets by way of infrastructure development projects. His movable assets, including cars, gold and other assets, are valued at Rs 139.09 crore. In 2008, while contesting Assembly elections from the Bommanahalli seat on a Congress ticket, Reddy had declared assets worth Rs 178 crore.

Reddy is the promoter of RGA Software System and owner of Primal Projects Pvt Ltd. He has been in the business of land development for nearly three decades. He has shown land banks in Sarjapura, Rachenahalli, K R Puram, Bellandur, Outer Ring Road, Agara, etc. Reddy has declared liabilities worth Rs 97.48 crore. He has declared one Audi (A6) vehicle in his name.

The other crorepati, who will continue to represent BJP at the RS, is 66-year-old Prabhakar Kore from Belgaum. Kore is a promoter of several educational institutions, including medical and dental colleges. Chairman of the KLE Society with 204 institutions under its purview, Kore has declared assets worth Rs 33.28 crore. Kore had declared wealth of Rs 18 crore in 2009.

The other main contender who filed his nominations on Saturday was BJP leader K S Eshwarappa. He has declared assets of Rs 4.93 crore and a liability of 1.19 crore. Eshwarappa has been charged with criminal cases also.