Pune MLC Candidate Vikram Kakade’s Affidavit Reveals ₹10 Crore Loan To Ajit Pawar’s Son Jay, Family Assets Exceed ₹150 Crore

Pune, Jun 4: Nationalist Congress Party MLC polls candidate Vikram Kakade has disclosed in his affidavit that he has extended a Rs 10 crore loan to Jay Pawar, son of Maharashtra Deputy Chief Minister Sunetra and late Ajit Pawar, and declared family assets worth over Rs 150 crore.

Vikram Kakade, who is into construction business, is the NCP candidate for the Pune local authorities' constituency in the MLC elections slated for June 18. The NCP, a key member of the BJP-led Mahayuti government, is headed by Sunetra Pawar, who joined the cabinet and assumed the top party post after the death of her husband Ajit Pawar in a plane crash in January.

Barely a week ago, the businessman-politician, along with his father, joined the NCP in the presence of Sunetra Pawar and her sons Jay and Parth.

The poll affidavit, filed along with his nomination papers, shows that Vikram Kakade, 33, son of former Rajya Sabha MP and businessman Sanjay Kakade, has extended loans and advances totalling Rs 41.80 crore to individuals, companies and firms.

Under the head "Loans and Advances to Other Persons", the affidavit lists a loan of Rs 10 crore to Jay Ajit Pawar. Other advances include Rs 4.94 crore to Rustom Bharucha, Rs 2.17 crore to Purvez Keki Grant and Rs 7.55 crore to Shreesha Enterprises.

The NCP candidate has declared movable assets worth Rs 78.95 crore and these include cash in hand of Rs 7.5 lakh and bank deposits of Rs 29.53 lakh.

The affidavit shows investments worth Rs 11.69 crore in bonds, shares, debentures and mutual funds. He has also declared investments of Rs 30.16 lakh in insurance policies and other financial instruments.

The NCP nominee has reported ownership of a fleet of luxury vehicles with a total value of Rs 22.04 crore. The collection includes high-end models such as BMW 740i, BMW G310R, Lexus LM 350H, Toyota Land Cruiser, Toyota Fortuner, Isuzu V-Cross, Mini Cooper S, Mercedes-Benz GLC 300 and a Lamborghini Huracan.

Vikram Kakade has declared jewellery, bullion and other valuables worth Rs 2.25 crore, including investments in gold, silver and watches.

According to the affidavit, his immovable assets are valued at Rs 74.07 crore. These include non-agricultural plots in Pune and residential properties in Pashan and Dubai. His self-acquired immovable assets have an approximate current market value of Rs 74.07 crore.

The affidavit further states that Vikram Kakade's spouse, Devika, owns immovable assets valued at Rs 9.19 crore.

The NCP candidate has stated his highest educational qualification as Higher Secondary Certificate (Class 12), which he completed from a Pune college in February 2011 with 70.83 per cent marks.

Elections to 16 legislative council seats from local self-government bodies and a bypoll from the Nagpur self-government body are scheduled for June 18 with vote counting on June 22. Members of local self-government bodies comprise the electoral college for these polls.