Maharaja's affidavit: Rich yet in debts
Even with his inheritance of crores, Punjab Congress chief Amarinder Singh is burdened with a few debts.
In Short
- While Captain Amarinder might call himself 'a soldier', his assets tell a different story.
- The Punjab Congress Chief has crores of movable and immovable properties.
- Yet, he is indebted to a private firm of Punjab in lakhs.
Sprawling estates in Punjab and Uttarakhand, an apartment in Dubai's Goldcrest towers, around Rs 33 lakh in bank deposits and Rs 48 lakh in investments are part of Punjab Congress chief Amarinder Singh's networth. Yet, the scion of the Patiala royalty is running in debts.
In his declaration before the returning officer in the Lambi constituency, Capt Singh disclosed his personal immovable properties were currently priced at Rs 1.21 crore in the market.
His all movable assets put together valued at Rs 1.41 crore, including jewellery worth Rs 32 lakh, the former chief minister announced in his affidavit.
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Individually, the Captain owns swathes of farmland in Haridwar in Uttarakhand and Kharar in Punjab. A residential flat he bought in Dubai's Goldcrest towers nine years ago is now valued at Rs 96 lakh, according to his asset declaration.
Still, Captain Singh owes a few lakhs to a private firm, Teg Masrado.
The erstwhile royal has borrowed around Rs 7.54 lakh from the Patiala-based company. Government data shows Captain Singh is himself a director at Teg S Masrado Private Limited, with wife Preneet Kaur, since it was founded in 1975. His son Raninder Singh is a third director in the company.
Nevertheless, Captain Singh has yet to pay the loan back to his own establishment.
His bete noire Parkash Singh Badal also declared his networth Wednesday in the Akali stronghold of Lambi.
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The 89-year-old veteran of Punjab politics, who ran the state for two terms in a row over the past decade, has little over Rs 50,000 of cash in hand, his affidavit stated.
Badal Senior's bank deposits stand at Rs 34.07 lakh and his personal transport is valued less than Rs 4 lakh.
Unlike his Congress opponent, the chief minister has himself to recover, if he does, a loan of Rs 3.42 lakh from debtors.
His non-agricultural income in the latest IT return stood at Rs 54.47 lakh. His farm earnings were around Rs 49 lakh during the period, according to his affidavit.
In 2017, Badal's immovable assets are priced at Rs 9.03 crore and his movables are worth Rs 5.45 crore.Also read | Captain Amrinder Singh filed nomination from Lambi, calls it 'Grandfather' of all battles