B M Farookh,the Rajya Sabha candidate owns assets worth Rs 778 crore

Team Udayavani, Mar 10, 2018, 10:01 AM IST

Bengaluru: Business tycoon B M Farookh, who is known as the “money bag” of JD(S), has total assets worth an astounding Rs 778 crores, including those possessed by his wife.

Farookh, a mechanical engineer, is the CMO of Fiza Developers and Infrastructure Pvt Ltd. According to the profit and loss statements documented by Farookh alongside his nomination papers recorded on Friday for the upcoming Rajya Sabha elections, his movable assets are worth Rs 87.27 crore and his immovable assets are esteemed at Rs 591.3 crore. He has proclaimed that his wife’s movable assets are worth Rs 9.11 crore and immovable assets worth Rs 91.23 crore.

A jetsetter, Farookh have cars including cars, airplanes, yachts and ships. While he possesses jewellery/bullion worth Rs 1.64 crore; his better half owns jewellery/bullion worth Rs 2.12 crore. He has proclaimed different resources worth Rs 2.57 crore. His liabilities remain at Rs 121.46 crore.

Farookh disclosed that he was not the party’s ‘money bag’. “The ‘money bag’ tag has been given to me by the media. I am a devoted worker of the JD(S) who needs to see H D Kumaraswamy as the Chief Minister of the state,” he included.