Cong nominee Vasantha Kumar declares Rs 412 crore assets

Congress candidate from Kanyakumari Lok Sabha constituency H Vasantha Kumar, who owns a consumer durable retail chain, has declared a total asset of Rs 412 crore and a 45 per cent increase in income in the past five years in his nomination papers.

Vasantha Kumar has movable assets with a value of Rs 230,20,95,302 crore. The total approximate market value of his immovable assets, which includes self-acquired and inherited is Rs 182,25,00,000 and the total value of assets is Rs 412,45,95,302 crore.

His borrowings from banks and financial institutions stands at Rs 154,75,11,439 crore and he owes no dues to the government.

His income, which was Rs 19.87 crore as per the 2013-14 income tax return, climbed to Rs 28.93 crore in 2017-18, about a 45.59 per cent increase.

The Congress leader, also a sitting MLA and his spouse are shareholders in Vasanth & Co Media Network Private Limited, which owns the Tamil satellite television channel 'Vasanth.