Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Nov 6: The income tax department, it is learnt, which has summoned minister, Shivakumar, and his family members to personally appear for hearing relating to raids conducted at various locations in the past, has arrived at Rs 400 crore as the value of assets belonging to the minister which are not accounted for.

These raids were conducted simultanesously on Shivakumar, his brother and MP, D K Suresh, father-in-law, Thimmaiah, sister, Padma, astrologer, Dwarakanath, entrepreneur, Sachin Narayan and several people close to him.

Is is said that during the previous occasions when he appeared for the inquiry, Shivakumar had confessed in statements made to the officials that he does not have any documents in support of assets to the tune of Rs 400 crore in his possession.

Out of this, Rs 120 crore stand in the name of the minister, and the balance Rs 280 crore has been invested in concerns of which he happens to be a partner. This figure of Rs 400 crore is inclusive of Benami properties and other assets acquired out of unknown sources of income, senior income tax officials say.

In the affidavit filed by him along with nomination papers in 2013, Shivakumar had valued the assets belonging to him at Rs 251 crore including land, buildings, commercial complexes etc.