Karnataka Chief Minister D.K. Shivakumar on Tuesday, 29 September 2026, publicly defended his declared wealth of ₹1,400 crore, asserting that every rupee was acquired within the legal framework and fully disclosed to the Income Tax Department. Speaking to reporters in New Delhi, Shivakumar launched a sharp counter-offensive against Union Minister H.D. Kumaraswamy, who had levelled allegations about his assets.

Shivakumar's Defence of His Wealth

'Yes, I have assets worth ₹1,400 crore at today's valuation. I have acquired them within the legal framework. Kumaraswamy is frustrated and is speaking like this,' Shivakumar told reporters. He stressed that being the son of a farmer and an entrepreneur did not disqualify him from accumulating property, adding that his children were equally entitled to purchase assets if they had the financial capacity.

On allegations that he had invested ₹5 crore in Shobha Developers and seen the value balloon to ₹2,000 crore, he rejected any wrongdoing. He also cited the example of a site given to him by the late former Chief Minister S. Bangarappa, purchased for ₹99,000 and now worth approximately ₹20 crore, arguing that rising land valuations were not evidence of corruption. 'Did I take a bribe? Did I get caught in any scam? Nothing like that happened,' he said.

Shivakumar Turns the Tables on Kumaraswamy

Shivakumar went on the offensive, questioning why Kumaraswamy had not halted the NICE (Nandi Infrastructure Corridor Enterprises) project when he served as Chief Minister in 2007. He alleged that Kumaraswamy's father, former Prime Minister H.D. Deve Gowda, had signed the original project agreement, and that Kumaraswamy himself had attempted to award a tender to an individual referred to only as 'Gandhi', adding that a court had reprimanded him in connection with the matter.

He also questioned whether Kumaraswamy and his family members owned properties within the Bangalore-Mysore Infrastructure Corridor Area Planning Authority (BMICAPA), the NICE Road project zone, and the Bidadi Township project. 'Several transactions were carried out in benami names. I do not want to take names like him,' Shivakumar said, reportedly declining to name specific individuals.

On the Debate Challenge and Threat Rhetoric

Responding to Kumaraswamy's public challenge to debate on the steps of Vidhana Soudha, Shivakumar said such a discussion was more appropriate inside the Assembly, suggesting Freedom Park as a venue if Kumaraswamy preferred a public forum. He also challenged Kumaraswamy to urge Prime Minister Narendra Modi to abolish tolls across the country.

'I am not afraid of such empty threats. I have seen enough of this drama and blackmail. They cannot tolerate our government's popularity. There is no medicine for jealousy,' he said, dismissing Kumaraswamy's warning that the allegations were only 'Part 1' of a larger expose.

Scrutiny and Accountability Claims

Shivakumar maintained that his assets have already been scrutinised by both the Election Commission of India and the Enforcement Directorate, and challenged any agency to investigate further. 'I have declared my assets every year. Let them appoint any bigger agency and investigate. Who will say no?' he said. He also alleged that the phones of religious leaders Balagangadharanatha Swamiji and Nirmalanandanatha Swamiji had been tapped, suggesting that such tactics would not intimidate him.

This comes amid persistent friction between the ruling Congress government in Karnataka and the Bharatiya Janata Party (BJP)-Janata Dal (Secular) (JD(S)) alliance, with political tensions escalating ahead of civic and assembly cycles. The exchange is likely to deepen scrutiny of asset declarations across party lines in the state.