Jharkhand: Nathwani’s entry turns Rajya Sabha contest into three-cornered battle

Mail News Service

Ranchi, June 8: The biennial Rajya Sabha election in Jharkhand has taken an interesting turn with industrialist Parimal Nathwani entering the fray as an Independent candidate backed by the National Democratic Alliance (NDA).
His candidature has set the stage for a keen contest for the two Upper House seats from the state, with the ruling INDIA bloc and the NDA now locked in a high-stakes political battle.
Nathwani filed his nomination on Monday, the final day for submission of papers, after holding consultations with BJP legislators and leaders of allied parties.
Ahead of filing his nomination, he visited the residence of BJP MLA Navin Jaiswal in Ranchi, where discussions were held with NDA leaders regarding electoral strategy and support.
Speaking to reporters, Nathwani exuded confidence about his prospects, though he refrained from commenting on the numerical strength of supporting legislators.
“I am an old Jharkhandi and people here have seen my work. I am confident of winning the election and getting another opportunity to serve the state,” he said.
A seasoned parliamentarian, Nathwani has previously represented Jharkhand in the Rajya Sabha for two terms. He highlighted the developmental initiatives undertaken during his earlier tenure and expressed hope that legislators would support him on the basis of his contribution to the state’s growth and welfare.
Leader of Opposition Babulal Marandi defended the NDA’s decision to back Nathwani, describing him as a proven and experienced candidate. Marandi said the BJP, after assessing the prevailing political arithmetic, chose to support Nathwani as it did not have sufficient numbers to independently secure a Rajya Sabha berth.
“Nathwani is a tested candidate who has represented Jharkhand effectively in the Rajya Sabha. The decision has been taken keeping the larger political situation in mind,” Marandi said.
However, Nathwani’s candidature drew sharp criticism from leaders of the ruling alliance. Jharkhand Mukti Morcha (JMM) leader and state minister Sudivya Kumar alleged that the BJP was attempting to engineer defections and indulge in horse-trading through the Rajya Sabha election process.
Similar allegations were echoed by Jharkhand Congress in-charge K. Raju, who accused the BJP of trying to influence the democratic mandate through political manoeuvring.
The ruling INDIA bloc has fielded Pranav Jha of the Congress and Baijnath Ram of the JMM for the two seats. With Nathwani’s entry as the NDA-backed Independent candidate, the contest has become significantly more competitive, adding a new dimension to the upcoming election scheduled for June 18.
Political observers believe the presence of a third candidate could make every vote crucial and intensify lobbying efforts in the days leading up to polling.
The election is now being closely watched for possible cross-voting and shifting political equations, making it one of the most keenly contested Rajya Sabha battles in recent years in Jharkhand.

Nathwani Declares Assets Worth ₹675 Crore, Owns No Car; Annual Income Crosses ₹35 Crore

Ranchi: Independent Rajya Sabha candidate and Reliance Industries Group President Parimal Nathwani has declared movable and immovable assets worth over ₹675.89 crore in his election affidavit, making him one of the wealthiest candidates in the fray for the Jharkhand Rajya Sabha election.

According to the affidavit, the 70-year-old businessman and sitting Rajya Sabha MP has total movable assets worth ₹367.39 crore, while his immovable assets are valued at approximately ₹308.50 crore. Despite his vast wealth, Nathwani has declared cash in hand of only ₹1.88 lakh. His wife, Varsha Nathwani, has movable assets worth ₹28.79 crore and immovable assets valued at ₹50.36 crore.

The affidavit shows Nathwani holds deposits of around ₹11.58 crore in various bank accounts. His investments in bonds, shares and mutual funds exceed ₹338.56 crore, while his wife has investments worth nearly ₹11.88 crore.

Nathwani also owns gold, silver and other valuables worth ₹7.23 crore, whereas his wife possesses jewellery and precious items valued at more than ₹13.67 crore.

Interestingly, despite his substantial wealth, Nathwani has not declared ownership of any motor vehicle, aircraft or watercraft.

The affidavit reveals that Nathwani owns non-agricultural land worth ₹47.50 crore and residential properties, including apartments, valued at around ₹261 crore. He also owns a solar power plant in Kutch district of Gujarat.

His wife owns agricultural land worth ₹4.73 crore, non-agricultural land valued at ₹42 crore, and residential properties worth approximately ₹2.65 crore.

The affidavit also discloses significant liabilities. Nathwani has outstanding loans and other financial obligations amounting to more than ₹251 crore, including bank borrowings of around ₹4.50 crore. His wife has liabilities of approximately ₹4.77 crore.

Nathwani has declared that he receives professional fees from Reliance Industries Limited under a contract valued at ₹24.99 crore annually. In addition, his private company, Khodiyar Consultants Private Limited, has a separate professional services agreement with Reliance worth ₹2.35 crore.

The affidavit states that Nathwani’s total declared income for FY 2025-26 stood at ₹35.70 crore. His highest reported income in recent years was ₹84.15 crore in FY 2023-24. His wife reported an income of ₹4.09 crore in FY 2024-25, primarily from agriculture and other sources.

Originally from Khambhalia in Gujarat’s Devbhumi Dwarka district, Nathwani is seeking another term in the Rajya Sabha from Jharkhand as an Independent candidate backed by the NDA. His affidavit provides a detailed picture of a business leader with extensive investments, high-value property holdings and substantial professional earnings.