Income tax raids at People's Conference leader Imran Raza Ansari in Srinagar

Srinagar, Apr 25: Income Tax Dept raid underway on a location of former state minister of Jammu and Kashmir People's Conference leader Imran Raza Ansari at Karan Nagar in Srinagar.

Ansari is the richest among the 12 candidates in fray from Jammu and Kashmir's Srinagar Lok Sabha seat.

Irfan Raza Ansari owns various businesses and has total assets worth Rs 66.54 crores, according to an affidavit filed by him. He is the brother of former minister and Shia leader Imran Ansari, who left the PDP to protest "nepotism and dynastic supremacy" in the party led by Mehbooba Mufti.

The 41-year-old Delhi University graduate had Rs 1.5 lakh cash in hand at the time of filing his nomination from the prestigious constituency from where National Conference (NC) president and three-time chief minister Farooq Abdullah is seeking re-election.

According to his affidavit, Irfan Raza Ansari's movable assets are worth Rs 7.34 crore and include a fleet of expensive cars, including three Mercedes valued at Rs 3.8 crore. He also has jewellery worth Rs 10 lakh, while his wife owns jewellery worth Rs 30 lakh.

The PC candidate has immovable assets worth Rs 59.20 crore which include 170 kanals (21 acre) agricultural land having the market value of Rs 12 crore and non-agriculture land valued at Rs 42.4 crore.

He has liabilities of Rs 6.23 crore which include term loan, credit card outstanding and car loans.

Ansari's wife, who owns 10 per cent equity shares in one of her husband's companies, has movable assets worth Rs 37.53 lakh, including jewellery valued at Rs 30 lakh.