Mangalore, Oct 26, 2014: Union Railway Minister D.V. Sadananda Gowda has rubbished all allegations regarding the ‘doubling’ of his wealth after he took charge as a Union Minister.
Speaking to reporters at his residence at Lower Bendur in the city on October 26, Sunday, in the wake of reports that he has illegal assets, the Union Minister said whatever wealth he had was accounted and his increase of wealth was not through illegal but through legitimate means.
Here it is worth mentioning that the Association for Democratic Reforms (ADR) and National Election Watch (NEW) had recently claimed that DVS was the only Union Minister whose assets had doubled when compared to the declarations made during the Lok Sabha elections and the declaration sent to the PMO office recently.As per the records Gowda’s assets had increased from Rs 9.88 crore to Rs 20.35 crore.
Stating that he was deeply hurt by the allegations, the minister said “The increase in wealth was owing to a loan amount sanctioned by the Federal Bank after the elections. I had applied the loan well before the elections.”
The Minister said he had approached the Federal Bank in September last year for loan to buy a property and that the loan of Rs 8 crore was sanctioned in November 2013. Apart from that Rs 2 crore was received as advance from tenants as rent. The Minister said due to his busy schedule he failed to meet his tenants M/s Ramaiah Foundation in Bangalore and the dealing was postponed. It was on May 23, 2014 that the loan was granted.
The minister said he was in possession of all documents and will also make available the rental agreement and other documents soon.
He also clarified that all his dealings have been transparent and that he had never misused funds.