Mangalore: Revealing more details about his assets and liabilities, Railway Minister D.V. Sadananda Gowda asserted that he had borrowed Rs 15 crore in loans from four banks.
Addressing reporters at Mangalore on Sunday, Mr Gowda denied reports that he had amassed wealth after he took charge as minister in the Narendra Modi cabinet earlier this year.
He said that he has borrowed Rs 15 crores from four banks- Canara Bank, Corporation Bank, Federal Bank and Apex Bank.
Mr Gowda clarified that for purchasing a 36,000 sq ft carpet area commercial building at Bengaluru for Rs 10 crore, he had availed a loan of Rs 8 crore from Federal Bank and Rs 2 crore as rental advance from MS Ramaiah foundation for renting out the same building.
A rent of Rs 15 lakh per month is being credited to the bank against loan instalments. The property has been registered in his name and mortgaged to the bank.
Mr Gowda also released a letter dated October 25, 2014, issued by the Federal Bank- Mangalore branch giving details of the loan disbursement.
