T R Baalu declares assets worth Rs 20.87 crore

Senior DMK leader and party principal secretary T R Baalu, contesting from Sriperumbudur Lok Sabha constituency in the April 18 elections, has declared total assets worth Rs 20.87 crore, marginally higher than he had five years ago.

The assets included shares, gold ornaments, residential and commercial properties owned by him and his two wives, according to the affidavit filed along with his nomination.

77-year old Baalu, who was the Shipping and Road Transport and Highways Minister in the UPA-I regime, owns assets worth Rs 11.87 crore and his wives together Rs nine crore, it said.

He is seeking a second term from Sriperumbudur constituency, which he had won in 2009. He was defeated in the 2014 elections from the seat.

Total value of shares held by him in various companies was Rs 96.64 lakh. Baalu owns 7,91,800 shares in Kings India Chemicals Corporation with current market value of Rs 15.83 lakh, 29,444 number of shares in Meenam Fisheries Ltd with current market value of Rs 2.94 lakh.

He also has 1,97,500 units of shares in Kings India Power Corporation with current market value of Rs 9.87 lakh. He also has 10,000 units of shares in Rajee Estates and Securities Pvt Ltd tune of Rs 68 lakh.

His wives owned shares worth Rs 26.43 lakh in various companies and have gold jewellery valued at Rs 49.95 lakh, the affidavit said.

In 2009, Baalu had declared movable and immovable assets valued at Rs 6.90 crore.