Bengaluru, September 29, 2026 (Yes Punjab News)
Karnataka Deputy Chief Minister D.K. Shivakumar has said that his assets, valued at around Rs 1,400 crore at current market rates, were acquired legally and disclosed to the Income Tax Department, responding to allegations raised by Union Minister H.D. Kumaraswamy.
“Yes, I have assets worth Rs 1,400 crore at today’s valuation. I have acquired them within the legal framework. Kumaraswamy is frustrated and is speaking like this,” Shivakumar told the media in New Delhi on Tuesday.
He attributed Kumaraswamy’s remarks to alleged differences within the BJP-JD(S) alliance and questioned his criticism of the NICE project, saying Kumaraswamy had served as Chief Minister but had not stopped the project during his tenure.
Shivakumar said the project agreement had been signed by Kumaraswamy’s father, former Prime Minister H.D. Deve Gowda. He also alleged that Kumaraswamy had attempted to award a tender to a person named Gandhi and had faced a court reprimand in connection with the matter. Shivakumar further alleged that several transactions related to the project had been carried out under benami names.
Responding to questions about his wealth, Shivakumar said his background as the son of a farmer did not prevent him from owning property or engaging in business.
“Should I not have property? Should my children not buy property? I have acquired property within what is legally permissible. What is wrong with that? Is Kumaraswamy an Income Tax official? Let him give the information to the Income Tax Department,” he said.
He also questioned whether Kumaraswamy or his family members owned properties in areas covered by the Bangalore-Mysore Infrastructure Corridor Area Planning Authority (BMICAPA), the NICE Road project and the Bidadi Township project.
Denying allegations that he had invested Rs 5 crore in Shobha Developers and increased its value to Rs 2,000 crore, Shivakumar cited a site he had purchased during the tenure of former Chief Minister S. Bangarappa.
“Former Chief Minister late S. Bangarappa had given me a site for Rs 1 lakh. Today, its value is Rs 20 crore. Is there anything wrong with this? Did I take a bribe? Did I get caught in any scam? Nothing like that happened,” he said.
Shivakumar later clarified that he had purchased the site for Rs 99,000 and that its value had since risen to around Rs 20 crore. He maintained that he had the right to conduct business and that his children could also acquire property if they had the financial means.
“I do not need to do anything secretly. I have already declared my assets,” he said.
Referring to Kumaraswamy’s challenge to hold a debate on the steps of Vidhana Soudha, Shivakumar said any discussion should take place inside the Assembly. He suggested that Kumaraswamy could instead hold a public debate at Freedom Park.
Shivakumar also questioned why the NICE project had not been halted when Kumaraswamy was Chief Minister in 2007, despite his stated opposition to it. He challenged the Union Minister to urge Prime Minister Narendra Modi to abolish tolls across the country.
“I am not afraid of such empty threats. I have seen enough of this drama and blackmail. They cannot tolerate our government’s popularity. There is no medicine for jealousy,” Shivakumar said.
Reacting to Kumaraswamy’s remark that the allegations were only “Part 1”, Shivakumar said he was not afraid of threats, sting operations or blackmail. He alleged that the phones of Balagangadharanatha Swamiji and Nirmalanandanatha Swamiji had been tapped and questioned whether he would be spared from similar surveillance.
“I was not afraid when he was Chief Minister. Will I be afraid now? I am not someone who can be intimidated or blackmailed through threats,” he said.
Shivakumar also accused Kumaraswamy of being unable to tolerate members of his own family and alleged that the criticism was driven by jealousy over the Congress government’s popularity.
Reiterating that his assets had been disclosed annually, Shivakumar said the Election Commission and the Enforcement Directorate had already examined his declarations. He invited further scrutiny by any agency.
“I have hundreds of such properties. I do not have money earned by keeping a lorry and sweeping garbage. I have my own profession and business. I have declared my assets every year. The Election Commission and the Enforcement Directorate have already examined them. Let them appoint any bigger agency and investigate. Who will say no?” he said.
The exchange follows Kumaraswamy’s allegations concerning Shivakumar’s assets and business interests, with the Deputy Chief Minister rejecting claims of wrongdoing and maintaining that his wealth was acquired through legitimate means.
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