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With Rs 1,744 Crore of Assets, This Scrap Dealer Is Wealthiest Candidate For Karnataka MLC Polls

Bengaluru: Congress party’s candidate for Bengaluru central legislative council is a billionaire, who was once a scrap dealer and has now declared assets of Rs 1,744 crore. Yusuf Sharif who goes by the name ‘Gujari Babu’ and ‘Scrap Babu’, claims that his luck changed after he found 13 kg gold by chance in early 2000 after he won the bid of 21 scrap tanks in Kolar Gold Fields (KGF).

Sharif has two wives and five children with movable Assets of 97 crores and immovable Assets worth rupees 1,643 crores in their name. As per the declaration by Sharif his first wife has movable properties worth Rs 98 lakh and Rs 1.30 crore of immovable assets. His second wife has Rs 32.22 lakhs of movable assets.

It is to be noted that the assets declared by the 54-year-old realtor far outstrip those of the other 121 candidates for the 25 seats heading to the polls.

The declaration puts him ahead of Priya Krishna, a former Congress MLA from Bengaluru who declared assets worth Rs 1,020 crore ahead of the 2018 Assembly polls, former Congress MLA and current BJP MLC N Nagaraj who declared Rs 1,010 crore, and Karnataka Congress chief D K Shivakumar who declared Rs 841.72 crore in 2018.

Sharif claimed that he used that money to buy properties along with factories through Government and court auctions, which changed his life. Speaking to news agency ANI,  Yusuf Sharif said that he has seen poverty and has also seen riches. Now, he wants to give back to society and that is the reason why he is joining politics.

He said that his family has been associated with Congress for many years and he has been following DK Shivakumar for the last 20 years.

Sharif made national headlines in August, 2021 when his Rs 2.01-crore (according to affidavit) Rolls Royce car — which he bought second hand from actor Amitabh Bachchan — was seized by RTO officials for road tax violation. The Income Tax department also searched his premises over alleged tax evasion of Rs 13.43 crores.

He faces four pending criminal cases — three of which, he claims, were based on allegations made while developing property for his real estate business.

There Legislative Council polls will be held on December 10 in which 99,062 people will cast their votes.

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