Pune, June 4, 2026
The official election affidavit of Mahayuti’s surprise Pune candidate, Vikram Kakade, has revealed staggering personal wealth and an equally astounding personal loan of Rs 10 crore to Jay Pawar, the son of current Maharashtra Deputy Chief Minister and NCP National President Sunetra Pawar and late Deputy Chief Minister Ajit Pawar.
The construction magnate and former national-level shooter has declared total family assets worth Rs 153 crore, establishing him as one of the wealthiest contenders in the fray.
Beyond luxury assets like high-end yachts and premium watches, the affidavit has sparked intense political chatter by disclosing that Kakade has extended a massive personal loan of Rs 10 crore to Sunetra Pawar’s son Jay Pawar.
This high-profile financial link underscores Kakade’s deep, elite-tier access within the party’s top leadership, even as his unexpected nomination continues to trigger severe heartburn among grassroots NCP loyalists.
Vikram Kakade, known to be a close confidant of NCP MP Parth Pawar who is the elder son of Sunetra and late Ajit Pawar, reportedly received a firm assurance for his candidature from Parth himself.
According to his election affidavit, Kakade possesses assets worth approximately Rs 150 crore. His movable assets are valued at Rs 78,95,65,531, which includes Rs 7.5 lakh in cash and Rs 29.53 lakh in various bank deposits.
His holdings include 410 grams of gold, over 5 kg of silver, luxury boats, premium high-end watches, and expensive luxury cars.
The affidavit also reveals that Kakade has extended substantial multi-crore loans to prominent figures and corporate entities including a personal loan of Rs 10 crore to Jay Pawar, Rs 2.17 crore to Pervez Grant and approximately Rs 40.95 crore to corporates and builders.
Vikram Kakade is the son of former MP Sanjay Kakade and both officially joined the NCP on June 1.
Vikram Kakade filed his nomination on June 1 which was the last date for filing nominations for the elections to the 17 State Council seats slated for June 18. Vikram and his father are also highly trusted by Maharashtra Chief Minister Devendra Fadnavis.
Vikram Kakade is a successful real estate developer and construction businessman and a four-time State Shooting Champion who has represented the national team. He had represented India internationally in shooting events across Italy, France, Germany, and the Thai Open in Thailand.
The decision to give the party nomination to Vikram Kakade has opened old wounds within the NCP. Historically, Ajit Pawar shared a bitter political rivalry with Sanjay Kakade (Vikram’s father) and former legislator Anil Bhosale. Incidentally, Anil Bhosale is Vikram Kakade’s father-in-law.
Passing over loyal, grassroots workers to award the ticket to the son of a former rival has left local leaders including Sunil Tingre and Vikas Lande deeply disgruntled. Tingre, who has filed his nominations, has been pacified by Parth Pawar and he will withdraw his nominations today which is the last day for withdrawal.
Sanjay Kakade played a pivotal role in ending the NCP’s reign over the Pune Municipal Corporation in 2017. While with the BJP at the time, the senior Kakade successfully engineered defections of several NCP corporators to the BJP and aggressively defeated those who resisted.
Reacting to the development, former NCP MLA (Ajit Pawar faction) Vilas Lande expressed the collective disappointment of the party workers.
“There is a prevailing sentiment among workers that Vikram Kakade secured the nomination solely due to his immense financial muscle. Many felt that the ticket should have gone to a loyal, hardworking grassroots worker from among us. Nominating an insider would have truly strengthened the party at the foundational level.”
However, Jay Pawar and other party leaders have strongly defended Vikram Kakade’s nomination saying that the decision was taken by the party’s leadership. Jay Pawar assured that the party will do justice to those who could not get the party nomination this time.(Agency)
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