The assets of M T B Nagaraj, the BJP candidate for the upcoming bypoll for the Hoskote Assembly seat, have gone up by Rs 185 crore over 18 months, according to the affidavit he submitted to the Election Commission while filing his nomination.
Nagaraj is one of the 17 rebel MLAs from the Congress and JD(S) whose defection in July led to the fall of the H D Kumaraswamy-led government.
In his 2018 election affidavit, Nagaraj and his wife declared assets worth Rs 1,015.43 crore. This year, that figure has risen to about Rs 1,200 crore, with the affidavit showing 53 deposits made into his accounts between August 2 and 7 of between Rs 75-90 lakh, amounting to about Rs 48.76 crore.
Speaking to The Indian Express, Nagaraj said, “All the details provided in the affidavit are true and legal. I have all the documents and paid income tax.”
When asked about the money deposited in his various bank accounts in August, Nagaraj said they reflected his business earnings. “The deposits are the money credited from the maturity of fixed deposits. At the same time, I have many buildings on rent, so I receive crores through rent and also I have a successful business,” he said.