Hyderabad: Senior advocate and Telangana Rajya Sabha nominee Abhishek Manu Singhvi has declared assets worth Rs 2,558 crore and an annual income of Rs 374 crore for the 2024-2025 financial year, marking a jump of more than 200 percent from FY 2021 earnings, according to the election affidavit he filed in Hyderabad on 6 March while submitting his nomination papers.
The affidavit accessed by ThePrint showed the income in the preceding years was Rs 333 crore in 2023-24, Rs 359 crore in 2022-23, Rs 290 crore in 2021-22 and Rs 158 crore in 2020-21.
The document filed before the returning officer also included the combined assets of his wife, Anita Singhvi, and his Hindu Undivided Family (HUF), detailing assets from mutual fund investments, bank deposits, shares, and movable and immovable properties. In addition, it also lists liabilities and other sources of financial income.
According to the affidavit, while there are no pending criminal cases against Singhvi, a case in Jodhpur filed by the Central Board of Direct Taxes in 2011, 2012, and 2013 is still pending. The advocate is accused of inflating expenses and evading tax by understating his income.
The affidavit declared Abhishek Singhvi’s outstanding dues to the income tax department topped Rs 63 crore, while his other liabilities stood at Rs 353 crore.
The affidavit also declares an independent liability of Rs 72.99 crore against Anita Singhvi’s name.
The couple also holds jewellery worth Rs 159.93 crore, and the value of paintings and artworks runs into Rs 25 crore, the affidavit said.
ThePrint has reached Singhvi for comment via calls, WhatsApp calls and texts. This report will be updated if and when a response is received.
The sharp rise in income and the resulting increase in his net worth have drawn criticism from the Bharatiya Janata Party.
BJP spokesperson Amit Malviya said on social media platform X that the Congress leader’s earnings came from fighting for the Trinamool Congress-led government in West Bengal and the Aam Aadmi Party in Delhi.
“The pattern is clear: political scandals for some, and massive legal paydays for a select few, all at public expense,” Malviya said.
The sharp surge in Abhishek Manu Singhvi’s income over the last five years has generated a lot of debate.
From ₹158 crore in FY21 to ₹374 crore in FY25, a staggering 236% jump, Singhvi has now declared assets worth ₹2,869 crore in his Rajya Sabha election affidavit.
A…
— Amit Malviya (@amitmalviya) March 9, 2026
In contrast, the other Congress leader nominated from Telangana, Vem Narender Reddy’s assets were a fraction of Singhvi’s.
According to his affidavit, Reddy’s family assets total a little more than Rs 40 crore.
While his movable assets are valued at Rs 42.57 crore, his wife’s movable assets stood at Rs 2.27 crore. Fixed deposits of Rs 28 crore and a 40 percent stake in Asthra Krishna Hospitality Group were among the assets the Reddy family declared to the returning officer.
The Congress renominated Abhishek Manu Singhvi from Telangana and included chief minister Revanth Reddy’s adviser and political associate, Vem Narender Reddy, as the second candidate to the Rajya Sabha on 6 March.
The current terms of the sitting members—Singhvi and former Andhra Pradesh assembly speaker Suresh Reddy—will end on 9 April. The two leaders are expected to be elected unopposed, with the Congress enjoying a majority in both houses in Telangana.
(Edited by Sugita Katyal)
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