Srinagar (Jammu and Kashmir) : As the Lok Sabha elections for Jammu and Kashmir's Baramulla seat draw nearer, all eyes are on the candidates vying to win the seat in the current elections. Sajad Gani Lone, former Member of Legislative Assembly (J&K) and President of Jammu and Kashmir People's Conference, emerged among the notable contenders.
His nomination affidavit sheds light on his financial profile, educational qualifications, and offshore assets. In a disclosure highlighting a noteworthy financial trajectory, Sajad Gani Lone revealed phases of growth with occasional fluctuations over the last five years. He paid income tax of Rs 37,86,840 in 2018-19, which witnessed a notable increase to Rs 51,85,300 in 2019-20. Though showing a slight fall to Rs 34,95,470 in 2020-21, the subsequent fiscal year, 2021-22, experienced a significant spike, reaching Rs 77,05,230. Subsequently, there was a further substantial increase to Rs 81,799,50 in 2022-23, indicating robust growth in his income over the years.
Maintaining a clean legal record, devoid of criminal cases or convictions, Sajad's movable assets include a gross value of Rs 75.86 lakhs, comprising Rs 2.5 lakh in cash and Rs 16,85,908 in various bank accounts. Notably, he possesses an offshore account in Dubai, with a balance of Rs 44,655 (1964 Dirham). His jewelry holdings are valued at approximately Rs 9.45 lakhs, alongside valuable household articles amounting to Rs 10 lakhs.
While his declaration reveals a lack of agricultural and non-agricultural lands, Sajad holds immovable property in the form of residential property worth Rs 4.20 crore and commercial valued at Rs 7 crore. Additionally, he owns a Mahindra Scorpio S-11 worth Rs 28 lakhs, two Maruti Suzuki Balenos worth Rs 6.40 lakhs, and a Maruti Eeco worth Rs 2.20 lakhs.
However, juxtaposed against his assets are significant liabilities and loans amounting to over Rs 69.43 crore (Rs 69,42,64,840.27), indicating a substantial financial obligation. Sajad Gani Lone's educational background includes a Bachelor of Science degree in Economics (Honors) from Cardiff University, United Kingdom. His profession spans politics and business, with rental and business income supplementing his pension as an MLA.
Furthermore, insights into his family's financial standing reveal his spouse having assets with total gross value at Rs 54.80 lakh, while his elder son's assets amount to Rs 1,87,207.54, including a student offshore account with Bank of America holding $870 (Rs 72,657) in balance. His younger son's assets total Rs 8,13,960.27, encompassing a student offshore account with LLYOD bank holding 4500 pounds (Rs 4,64,198) in balance.
As the electoral landscape of Baramulla unfolds, Sajad Gani Lone's multifaceted financial portfolio, educational qualifications, and familial assets contribute to the dynamic narrative of the upcoming Lok Sabha race. Alongside formidable contenders such as Omar Abdullah from the Jammu and Kashmir National Conference, Mir Mohammad Fayaz representing the Peoples Democratic Party, and jailed Abdul Rashid Sheikh, also known as Er Rashid, running as an independent candidate, over 38 candidates have filed nomination papers from Baramulla. Today marks the last date for filing nominations on the seat, scheduled for polls during phase 5 on May 20.
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