Bangalore : Railway Minister D.V. Sadananda Gowda on Saturday rejected the claims made by the Association for Democratic Reforms (ADR) and National Election Watch (NEW) that his assets have grown the highest among the council of ministers since the Modi government took over, from Rs 9.88 crore at the time of election to Rs 20.35 crore even as the M.S. Ramaiah group of Institutions said on Saturday that it had not sold any property to Mr Sadananda Gowda.

Talking to DC on Saturday, Mr Gowda clarified that he bought the property from a third person not from M.S. Ramaiah group of Institutions.

Requesting the agencies concerned to confirm with him before going public with such sensitive statements Mr Gowda said, “I have secured a loan of Rs 8 crore from Federal Bank and Rs 2 crore as advance from those who opted to take my buildings on rent. My submission has been wrongly interpreted. All my transactions are transparent.”

S.M. Acharya, Chief executive of Gokula Education Foundation (Engineering & General Sciences) scotched reports of any transactions with the Railway minister, saying: “Mr. Sadananda Gowda, Union Railway Minister, Government of India has stated that he has purchased some real estate property from M.S. Ramaiah Institute of Management (MSRIM), and that Mr. Sadananda Gowda has said that he received an advance of Rs. 2 crores from MSRIM.

On behalf of the Gokula Education Foundation (Engineering & General Sciences) under whose aegis the MSRIM functions, I would like to make clear that the MSRIM has not had any such transactions with Mr. Sadananda Gowda. It has neither sold any property to him nor leased any property from Mr. Sadananda Gowda paying him any advance whatsoever.”