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Samajwadi Party richest among 22 regional parties with Rs. 635-crore assets: Report

SNS | New Delhi |

Samajwadi Party led by former Uttar Pradesh Chief Minister Akhilesh Yadav has topped the chart that listed 22 regional parties as it declared assets worth nearly Rs. 635 in 2015-16, according to a report by the Association for Democratic Reforms (ADR). The ADR is a Delhi-based think tank.

According to the media reports, the Samajwadi Party has recorded an increase of 198 per cent in its assets; while Tamil Nadu’s ruling AIADMK’s assets saw an increase of 155 per cent in five financial years. During the period, Shiv Sena’s assets increased by 92 per cent.

“During the financial year 2011-12, the declared assets of SP were Rs. 212.86 crore which increased by 198% to Rs. 634.96 crore during the financial year 2015-16. The total assets of AIADMK between the financial year 2011-12 & 2015-16 increased by 155%, from Rs. 88.21 crore to Rs. 224.87 crore,” said the report.

According to ADR, the assets declared by regional parties fall under six major heads: fixed assets, loans and advances, FDR/deposits, TDS, investments and other assets.

The report is based on audited accounts submitted by the regional parties to the income-tax department along with the Election Commission of India.

Not only assets, but the report also analysed the liabilities of the parties.

Taking about the liabilities, Telangana Rashtra Samiti (TRS) and Telegu Desam Party (TDP) are on the top of the list.

As per the ADR report, the TDP declared liabilities of Rs. 8.186 crore during 2015-16, while TRS declared the liabilities of Rs. 15.97 crore during the financial year 2015-16.

(With agency inputs)