Kalmadi worth 8 cr, Pune people call it a lie

New Delhi: Suresh Kalmadi - politician-businessman-sports administrator rolled into one and long-time president of the Indian Olympic Association - is a high-flying Congress MP from Pune. This man has declared his assets and he says his net worth just Rs 8 crore.

"Whatever I have declared is what I have. Nothing is hidden," says he.

But the people of Pune who have seen Kalmadi's working style for years are not convinced. People say that any any educated person will know these declarations are all lies."

Kalmadi's critics say the numbers don't add up and that he has much more than what his affidavit declares. Kalmadi says this in an interview to CNN-IBN.

CNN-IBN: What about your stakes in Sai Service, one of the largest dealerships of Maruti and Bajaj passenger vehicles in India?

Kalmadi: Why Mumbai and Pune? I have stakes right from Kolhapur and beyond also.

CNN-IBN: And the fancy Bistro hotel in Delhi?

Kalmadi: That has shut down and so has the Pune coffee house.

CNN-IBN: How do you value your land assets and huge properties? Are they worth just Rs 8 crore?

Kalmadi: Please ask my tax consultant about all this. Whatever I have declared is all I have.

Surprisingly, Pune's richest candidate is independent Arun Bhatia. The former bureaucrat is worth Rs 22 crores.

"I am honest that's why I have declared my assets. Now it's unfortunate that I am the richest candidate. It's my family's an ancestral property which was worth a few lakhs in the '60s. Now boom, it's suddenly 20 lakhs. I have inherited it after my mother's death. I am being honest and if you want to punish me for that, then so be it. But every penny of Rs 22 crore that I have can be accounted for," says Bhatia.

As the battle for the ballot hits the streets, the candidates' assets declaration is not just about how much he is worth, it's also about whether he is worth your vote.

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