BENGALURU: He may have been a well-known name in the party’s affidavit, but Congress’s Yousuf Sharif has now drawn full attention to him, due to a declared family worth over Rs 1,000 crore, which came to Karnataka on December 10. was made in his election affidavit for Legislative Council elections.
Sharif, a multi-billionaire who was previously into scrap sales before venturing into real estate, has declared himself and his family’s assets to be worth over Rs 1,744 crore, making him arguably the richest candidate.
The 54-year-old businessman is contesting from the Bangalore Urban Local Authority constituency, and was well known in party circles until his name was announced. Sharif is also known as ‘Gujari Babu’ or ‘Scrap Babu’ in clear reference to his tenure in scrap-dealing.
A native of Kolar Gold Fields, in an affidavit filed before the Election Commission along with his nomination papers, Sharif has said that he studied in a local government school till class V, has two wives and five children – a daughter and four sons. .
He has declared movable assets worth Rs 97.98 crore and immovable assets worth Rs 1,643.59 crore in his name. His first wife has movable assets of Rs 98.96 lakh and immovable assets of Rs 1.30 crore, second wife has movable assets of Rs 32.22 lakh. The rest are the names of their children.
He has a liability of Rs 67.24 crore. He has Rs 16.87 crore in various bank accounts and Rs 17.61 crore as investment in bonds, debentures or shares; While their wives have investments of Rs 16.99 lakh and Rs 20,681 and Rs 1.60 lakh and Rs 75,000 respectively in their bank accounts.
The family has vehicles worth more than Rs 3 crore which includes one Rolls Royce car and two Fortuners, and jewellery, bullion or valuables worth Rs 3.85 crore.
Sharif said four cases are pending against him in police stations in the city, three of which he claims were based on allegations made during the development of the property. He has also said that the Income Tax Department had earlier searched his premises and concluded the assessment by imposing a total outstanding amount of Rs 13.43 crore, against which he has appealed before the Commissioner of Income Tax. It has been accepted, but the hearing is yet to take place.
In a 2016 newspaper report that said Sharif was arrested by the Central Crime Branch (CCB) police for misbehaving with a female government official in the revenue department, the BJP said in a tweet, “What kind of The person has got Congress Legislative Council election. Ticket.”
It also hit out at state Congress chief DK Shivakumar, who was seeking to send a person to the “House of Elders” “behind bars for misbehavior”. When the KGF was in operation, Sharif was also linked to the gold mining industry by having a mill tank to purify raw gold.
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