Scrap dealer to real estate to Cong MLC candidate: Yusuf Sharif is worth Rs 1,744 crore

Bengaluru, Nov 25: Yusuf Sharif, the Congress' candidate for the MLC elections in Karnataka this year has declared a whopping Rs 1,744 crore assets that belong to him and his family.

A native of Kolar Gold Fields, Sharif's is a rags to riches story. Earlier known as Scrap Babu and Gujri Babu, he began by selling scrap before entering the field of real estate. Reports say that he had bagged a scrap contract with the Indian Railways when C K Jaffer Sharif was the railway minister.

In his affidavit he has said that he has two wives and five children. They have assets worth Rs 1,744 crore of which Sharif alone owns land valued at Rs 1,640 crore which is non-agricultural. He has 12 bank accounts and his liabilities stand at Rs 67 crore.

His assets are more than that of BJP MLC M T B Nagraj (Rs 880 crore) and Congress president, D K Shivakumar (Rs 840 crore). In his affidavit he has said that there was an income tax raid and he was levied tax dues of Rs 13.43 crore. He said that he has preferred an appeal before the Commissioner of Income Tax an the same has been admitted. The matter is yet to be head, he also said.

He also has a Rolls Royce worth Rs 2.01 crore and two Fortuners worth Rs 49 lakh each