NCP’s Vikram Kakade says ₹10 crore to Jay Pawar was plot advance, not loan; declares assets of over ₹150 crore

NCP Leader Vikram Kakade Clarifies ₹10 Crore Advance Payment in Election Affidavit

Vikram Kakade, a newly elected member of the Maharashtra Legislative Council, has clarified that the ₹10 crore listed against Jay Pawar in his election affidavit was an advance payment for a land transaction, not a loan.

Kakade, a builder from Pune, was elected unopposed from the Pune local authorities constituency. In his affidavit, he disclosed family assets worth more than ₹150 crore, including luxury vehicles, investments, and real estate holdings in India and Dubai.

Clarification on ₹10 Crore Advance Payment

In a statement, Kakade said that the ₹10 crore mentioned in his affidavit was not a loan but an advance payment for a plot adjacent to his bungalow in Yashwant Ghadge Nagar, Pune, which he intends to buy from Jay Pawar.

• Kakade has declared movable assets worth ₹78.95 crore, including cash in hand of ₹7.5 lakh and bank deposits of ₹29.53 lakh.
• The affidavit shows investments worth ₹11.69 crore in bonds, shares, debentures, and mutual funds.
• Kakade has also declared investments of ₹30.16 lakh in insurance policies and other financial instruments.
• He has reported ownership of a fleet of luxury vehicles with a total value of ₹22.04 crore, including high-end models such as BMW 740i, BMW G310R, and Lexus LM 350H.

Family Assets and Immovable Assets

Kakade has declared family assets worth over ₹150 crore, including:

• Jewellery, bullion, and other valuables worth ₹2.25 crore, including investments in gold, silver, and watches.
• Immovable assets valued at ₹74.07 crore, including non-agricultural plots in Pune and residential properties in Pashan and Dubai.
• His spouse, Devika, owns immovable assets valued at ₹9.19 crore.

Election and Candidature

Kakade was elected unopposed to the Maharashtra legislative council from Pune after five candidates, including NCP (SP) nominee Shrikant Patil, withdrew their nominations on Thursday, the last day to opt out of the fray.

The 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.