CHENNAI: Aatral Ashok Kumar, the AIADMK candidate for Erode Lok Sabha constituency appears to be the richest contender for the April 19 general elections in Tamil Nadu.
His net assets are worth Rs 583.48 crore as per the affidavit he filed before the Election Commission.
His wife Karunambika, who is the daughter of BJP MLA from Modakkurichi (in Erode district) Dr C Saraswathi, has assets valued at Rs 69.98 crore, Kumar stated.
Ashok Kumar, 53, a resident of Erode, has Rs 10 lakh cash in hand while his wife has Rs 5 lakh.
Both have 10.1 kg gold and 10.6 kg gold each respectively, he declared in the affidavit.
Kumar has movable assets valued at Rs 526.53 crore while the immovable assets -- both acquired and inherited -- are worth Rs 56.95 crore.
The movable assets belonging to his wife Karunambika are valued at Rs 47.38 crore and the immovable property in her name is worth Rs 22.60 crore.
Both have no liabilities.
Ashok Kumar is the founding member and director of The Indian Public School (TIPS) and Amex Alloys Private Limited.
He is also the founder of TIPS School of Architecture, TIPS School of Management, TIPS College of Arts and Science and the TIPS Global Institute, After his graduation in electrical engineering in Coimbatore, he completed a Master's from the University of Louisville, Kentucky, USA, and obtained an MBA from the University of Indianapolis, Indiana, USA.
He had worked in several multinational companies including Microsoft and Intel, and upon his return to India he established educational institutions.
