Montek Singh Ahluwalia has outstanding loan of Rs 1.5 crore for house purchase

Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission, has an outstanding loan of Rs 1.5 crore for purchase of a house in posh Greater Kailash locality here, according to an RTI reply.

Ahluwalia, whose financial assets net of liabilities as of 31 March 2012 are Rs 3,85,82,450, has a loan of Rs 1.5 crore from Syndicate Bank for house purchase, the RTI reply says.

Ahluwalia purchased the 500-square yards house at Greater Kailash in 2006 for Rs 7.1 crore from sale of earlier property and house loan. His wife has a 60 per cent share in the house, the RTI reply says.

The 69-year old economist has a plot in NOIDA which he obtained through Greenwoods Government Officers' Welfare Society of which he is a member. The plot, along with construction of one room, costed around Rs 25 lakhs, the reply to RTI activist Subhash Chandra Agrawal says.

All the properties and the bank accounts stated in the RTI reply are jointly held by Ahluwalia and his wife Isher J Ahluwalia who is an independent income earner, the reply said.

He also has an apartment constructed in 2001, which costed around Rs 30 lakhs, on first and second floor in Panchsheel Enclave, New Delhi, on an existing single storey house which, along with the plot, is owned by his mother, it said.

According to the RTI reply, Ahluwalia has five bank accounts, including one in the United States, with a cumulative balance of more than Rs 1.43 crore.

He has also invested Rs 3,33,58,817 in Indian mutual funds and Rs 58,49,360 in Fidelity Investment, Washington, DC.

ALSO READ

Simplification can cap Saradha group-type chit fund, Ponzi scheme cons: Institute of Cost Accountants

Six tips for a smooth claim settlement

Financial, retirement planning among NRIs has critical gaps: Standard Life NRI Wealth Study

50% sex workers lost life's savings in India's chit funds-type Ponzi schemes