‘Raja’ of 2G Scam Not Richest in Fray

Published: 03rd April 2014 09:10 AM  |   Last Updated: 03rd April 2014 09:10 AM   |  A+A-

Former Union Telecom Minister A Raja, accused of being the architect of the 2G scam that caused a presumptive loss of Rs 1.76 lakh crore to the country, is not among the richest candidates in the fray this election.

On Wednesday, he declared a family asset value of Rs 3.61 crore, which is merely a one-and-a-half time appreciation from his last declared asset value of Rs 1.45 crore in 2009 when he had no corruption case against him.

His net worth would be dwarfed if one were to even compare it with his predecessor from the constituency and present Coimbatore Congress candidate R Prabhu, who has declared an asset value of over `61 crore.

Raja (50) filed his nomination, declaring in his affidavit that he has been named an accused in a corruption case that could attract a punishment of two years or more.

He declared liabilities of Rs 35.51 lakh and Rs 3.92 lakh in his and his wife M A Parameswari’s names respectively. In 2010-11, he had purchased a Toyota Corolla Altis car worth Rs 13.81 lakh.

His movable assets are worth Rs 1.45 crore, which includes Rs 7.98 lakh cash, Rs 64.79 lakh bank deposits, Rs 22.09 lakh investments in bonds and Rs 1.2 lakh in a National Saving Certificate.

Besides, his gold holdings remain the same as in 2009 (a 108 sovereign memento with inscriptions), except that its value had appreciated to Rs 26.58 lakh. His silver holdings are worth Rs 1.95 lakh and he owns furniture worth Rs 2.3 lakh.

While he earned an income of Rs 8.09 lakh in 2012-13, his wife earned Rs 5.74 lakh during the same period. 

Interestingly, Raja has also loaned Rs 3.91 lakh to his wife. His 2,400 sq ft house in Ganapathy Nagarin Tiruchy, which he had purchased in October 1994, is now worth Rs 32.85 lakh. Parameswari owns 5.53 acres agricultural land at Serkudi in Musuri, Tiruchy, valued at Rs 5.53 lakh — just Rs 1,000 per cent of land. She also has five acres land at Melapuliyur in his native Perambalur district worth Rs 8.59 lakh.

Besides, Raja has inherited 1.62 acres agricultural land at Velur in Perambalur and has a Rs 6.5 lakh worth share in a residential building there as part of the Hindu Undivided Family assets.

His wife has movable assets worth Rs 93.93 lakh, 175 sovereigns gold jewels valued at Rs 43.07 lakh and silver worth Rs 4.68 lakh.

The couple has shied away from purchasing gold ornaments in the last five years.

Parameswari also has a stake of Rs 32.38 lakh in a partnership firm Shivakamam Agency Capital.

His daughter Mayuri has`18.15 lakh worth movable assets, including 25 sovereign of gold worth Rs 6.15 lakh and a Rs 12 lakh worth diamond stud.

Raja also has Rs 41,03 lakh worth Hindu Undivided Family assets. He holds shares in Infodrive Software Limited, Aurum Soft Systems Limited, Ecowave Infotech Limited, West Bengal and BF Investment Limited. His wife has shares in Infodrive, TwentyFirst Century (India) Limited and Dignity Supplier Limited, Kolkata.


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