Sidelined AIADMK leader T T V Dhinakaran, who is contesting the December 21 RK Nagar bypoll, today declared movable and immovable assets valued at Rs 74 lakh, a tad higher than his earlier declaration in April.

<a href="http://www.wionews.com/india-news/rk-nagar-bye-poll-on-december-21-counting-on-december-24-24991">Dhinakaran, who had contested the April 12 </a><a href="http://www.wionews.com/india-news/rk-nagar-bye-poll-on-december-21-counting-on-december-24-24991">bypoll</a><a href="http://www.wionews.com/india-news/rk-nagar-bye-poll-on-december-21-counting-on-december-24-24991"> to the constituency as then AIADMK </a>(Amma) candidate backed by Chief Minister K Palaniswami, had at that time declared assets valued at Rs 68 lakh.

In his affidavit submitted to the Election Commission along with his nomination papers today, Dhinakaran said his movable and immovable assets totalled Rs 74,17,807, with movable assets valued at Rs 57.44 lakh.

His movable assets were Rs 16.73 lakh, the 53 year-old former MP said.

Further, the gross total value of movable assets of his spouse and a dependent was around Rs 6.87 crore and Rs 1.17 crore, respectively, he declared in the affidavit.

Among the cases taken cognisance of by court was the one regarding the alleged bribery of an Election Commission official as part of the Two Leaves dispute, he said.

Delhi Police had earlier filed the case against him and the sidelined leader is now on bail, with the other accused being one Sukesh Chandrasekar.

Four FIR&#39;s were pending against him on other matters, Dhinakaran added.

Dhinakaran&#39;s challenger and AIADMK nominee E Madhusudhanan declared movable and immovable assets valued at over Rs 1.49 crore.

The 75 year-old veteran, who took on Dhinakaran as the candidate of then rebel O Panneerselvam camp in April, also mentioned he had no pending cases against him.

While the value of his movable property stood at Rs 12.53 lakh, that of his immovable property was Rs 1.37 crore, he said in his affidavit. He had no liabilities, he added.

The party veteran has been fielded once again to face the bypoll, this time as the AIADMK candidate.

Last week, the Election Commission had allotted the &#39;Two Leaves&#39; symbol to the Palaniswami-led faction, as both his led camp as well as that of Dhinakaran had staked claim for it.

Palaniswami and Panneerselvam had merged their respective led factions in August this year.

Meanwhile, DMK&#39;s N Maruthu Ganesh, a political greenhorn, declared assets valued at Rs 12.57 lakh.

A B.Com, LLB graduate,Maruthu Ganesh said in his affidavit that his immovable assets were valued at Rs 10 lakh, even as his liabilities to two private persons stood at a similar sum.

A case under Section 4(b) of Tamil Nadu open places (prevention of Disfigurement) Act, 1959, was pending against him.

All the three persons had earlier in the day filed their nominations to contest the prestigious RK Nagar bypoll, necessitated following the death of sitting MLA and then Chief Minister J Jayalalithaa in December last.

Dhinakaran, who had contested the April 12 bypoll to the constituency as then AIADMK (Amma) candidate backed by Chief Minister K Palaniswami, had at that time declared assets valued at Rs 68 lakh

Sidelined AIADMK leader T T V Dhinakaran, who is contesting the December 21 RK Nagar bypoll, today declared movable and immovable assets valued at Rs 74 lakh, a tad higher than his earlier declaration in April. Dhinakaran, who had contested the April 12 bypoll to the constituency as then AIADMK (Amma) candidate backed by Chief Minister K Palaniswami, had at that time declared assets valued at Rs 68 lakh. In his affidavit submitted to the Election Commission along with his nomination papers today, Dhinakaran said his movable and immovable assets totalled Rs 74,17,807, with movable assets valued at Rs 57.44 lakh. His movable assets were Rs 16.73 lakh, the 53 year-old former MP said. Further, the gross total value of movable assets of his spouse and a dependent was around Rs 6.87 crore and Rs 1.17 crore, respectively, he declared in the affidavit. Among the cases taken cognisance of by court was the one regarding the alleged bribery of an Election Commission official as part of the Two Leaves dispute, he said. Delhi Police had earlier filed the case against him and the sidelined leader is now on bail, with the other accused being one Sukesh Chandrasekar. Four FIR's were pending against him on other matters, Dhinakaran added. Dhinakaran's challenger and AIADMK nominee E Madhusudhanan declared movable and immovable assets valued at over Rs 1.49 crore. The 75 year-old veteran, who took on Dhinakaran as the candidate of then rebel O Panneerselvam camp in April, also mentioned he had no pending cases against him. While the value of his movable property stood at Rs 12.53 lakh, that of his immovable property was Rs 1.37 crore, he said in his affidavit. He had no liabilities, he added. The party veteran has been fielded once again to face the bypoll, this time as the AIADMK candidate. Last week, the Election Commission had allotted the 'Two Leaves' symbol to the Palaniswami-led faction, as both his led camp as well as that of Dhinakaran had staked claim for it. Palaniswami and Panneerselvam had merged their respective led factions in August this year. Meanwhile, DMK's N Maruthu Ganesh, a political greenhorn, declared assets valued at Rs 12.57 lakh. A B.Com, LLB graduate,Maruthu Ganesh said in his affidavit that his immovable assets were valued at Rs 10 lakh, even as his liabilities to two private persons stood at a similar sum. A case under Section 4(b) of Tamil Nadu open places (prevention of Disfigurement) Act, 1959, was pending against him. All the three persons had earlier in the day filed their nominations to contest the prestigious RK Nagar bypoll, necessitated following the death of sitting MLA and then Chief Minister J Jayalalithaa in December last.

RK Nagar bypoll: AIADMK leader Dhinakaran declares Rs 74 lakh as assets

Gold held steady on Wednesday as bullion found little impetus from weaker equities as the dollar rose to a four-month high on the back of better-than-expected US housing data. 
 
Asian stocks eased early on Wednesday after a record run on Wall Street showed signs of petering out. 
 
Global risk appetite, which has recovered rapidly from the Brexit shock late in June, received a sobering reminder after the International Monetary Fund cut its global growth forecasts for the next two years on Tuesday, citing uncertainty over Britain&#39;s looming exit from the EU. 
 
Spot gold was up 0.1 per cent at $1,332.81 an ounce at 0334 GMT. It closed at $1,331.73 on Tuesday. 
 
US gold was up 0.1 per cent at $1,333.30 an ounce. 
 
&quot;The probability of a US Federal rate hike has increased as of today. Some expectations of a rate hike have come back,&quot; said OCBC Bank analyst Barnabas Gan. 
 
&quot;There are still some headwinds to growth and this may lift safe-haven demand should the implications of Brexit start to unwind.&quot; 
 
Gold, which has risen 25 per cent this year, is highly sensitive to rising rates, which increase the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced. 
 
&quot;Technically, it looks like gold&#39;s recent weakness is slowly coming to a halt with a base being formed around $1,325 - $1335,&quot; MKS analyst James Gardiner said in a note. 
 
Spot gold is biased to fall to $1,313 per ounce after completing its consolidation within a small wedge, as per Reuters technical analyst Wang Tao. 
 
The dollar firmed in early Asian trading on Wednesday, as strong US data and rising expectations that the Bank of Japan will muster additional easing steps sent the dollar index to four-month highs.&nbsp; 
 
US housing starts rose more than expected in June as construction activity increased broadly, but downward revisions to the prior months&#39; data pointed to a sector treading water in the second quarter. 
 
Among other precious metals, spot silver, having ended lower in the four previous sessions, was up 0.1 per cent to $19.91 an ounce. 
 
Spot platinum was down 0.4 per cent at $1,084.50, while palladium, which touched an eight-and-half-month high on Tuesday, was down 0.7 per cent at $651.70. 
 
(Reuters)

Gold is highly sensitive to rising rates as it increases the opportunity cost of holding non-yielding assets such as bullion

Gold held steady on Wednesday as bullion found little impetus from weaker equities as the dollar rose to a four-month high on the back of better-than-expected US housing data. Asian stocks eased early on Wednesday after a record run on Wall Street showed signs of petering out. Global risk appetite, which has recovered rapidly from the Brexit shock late in June, received a sobering reminder after the International Monetary Fund cut its global growth forecasts for the next two years on Tuesday, citing uncertainty over Britain's looming exit from the EU. Spot gold was up 0.1 per cent at $1,332.81 an ounce at 0334 GMT. It closed at $1,331.73 on Tuesday. US gold was up 0.1 per cent at $1,333.30 an ounce. "The probability of a US Federal rate hike has increased as of today. Some expectations of a rate hike have come back," said OCBC Bank analyst Barnabas Gan. "There are still some headwinds to growth and this may lift safe-haven demand should the implications of Brexit start to unwind." Gold, which has risen 25 per cent this year, is highly sensitive to rising rates, which increase the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced. "Technically, it looks like gold's recent weakness is slowly coming to a halt with a base being formed around $1,325 - $1335," MKS analyst James Gardiner said in a note. Spot gold is biased to fall to $1,313 per ounce after completing its consolidation within a small wedge, as per Reuters technical analyst Wang Tao. The dollar firmed in early Asian trading on Wednesday, as strong US data and rising expectations that the Bank of Japan will muster additional easing steps sent the dollar index to four-month highs. US housing starts rose more than expected in June as construction activity increased broadly, but downward revisions to the prior months' data pointed to a sector treading water in the second quarter. Among other precious metals, spot silver, having ended lower in the four previous sessions, was up 0.1 per cent to $19.91 an ounce. Spot platinum was down 0.4 per cent at $1,084.50, while palladium, which touched an eight-and-half-month high on Tuesday, was down 0.7 per cent at $651.70. (Reuters)

Gold holds steady as equity rally loses steam

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