Samajwadi Party's Rajya Sabha candidate Dhanraj Parimal Nathwani has declared movable and immovable assets worth more than Rs 373 crore belonging to himself, his spouse and two dependents, besides reporting an annual income of Rs 19.61 crore for the financial year 2025-26, according to his election affidavit. The 40-year-old Reliance executive filed his nomination in Lucknow after the party announced his candidature on Wednesday alongside senior leader Ram Gopal Yadav.
Nathwani, currently a resident of Andheri West in Mumbai, is the son of Parimal Nathwani, a senior Reliance executive and four-term Independent Rajya Sabha MP backed by the NDA from Jharkhand. His nomination has brought attention to the family's political connections and the substantial financial holdings disclosed in his election affidavit.
Investments account for substantial wealth
According to the affidavit, Nathwani has declared movable assets worth Rs 77.75 crore, while his spouse has disclosed movable assets worth Rs 211.10 crore. His two dependents hold movable assets valued at approximately Rs 1.95 crore and Rs 1.20 crore, respectively.
A significant portion of Nathwani's movable wealth consists of investments in shares, bonds, debentures and mutual funds, collectively valued at approximately Rs 55.76 crore. He has also declared bank deposits of nearly Rs 10.63 crore, personal loans and receivables amounting to Rs 6.92 crore, and postal savings and insurance investments worth Rs 2.81 crore.
His spouse's financial holdings include investments in shares, bonds and other instruments worth approximately Rs 199.44 crore. She has also disclosed bank deposits of nearly Rs 1.87 crore and jewellery and other valuables valued at approximately Rs 8.54 crore.
Property holdings and liabilities disclosed
The affidavit places the current market value of Nathwani's self-acquired immovable properties at approximately Rs 27.67 crore, while his spouse has declared properties valued at Rs 53.59 crore. The document separately records purchase costs of Rs 7.93 crore and Rs 32.49 crore, respectively, along with expenditure on development and construction.
Nathwani has declared liabilities of approximately Rs 3.01 crore, including government dues of Rs 41.59 lakh and loans from banks, financial institutions and other sources amounting to Rs 2.59 crore. His spouse has reported liabilities of Rs 18.56 lakh, while the affidavit records no disputed government dues or institutional loans.
Annual income exceeds Rs 19 crore
For FY 2025-26, Nathwani reported a total income of Rs 19.61 crore, while his spouse declared an income of approximately Rs 1.48 crore. His sources of income include professional consultancy, rental earnings, capital gains and income from other sources, while his spouse reported director remuneration, rental income and capital gains.
The affidavit identifies Nathwani as a professional consultant with Reliance Industries Ltd and a director of unlisted companies. It also discloses a contract with Reliance Industries for professional consultancy and management services.
Business interests and educational qualifications
Nathwani and his spouse have declared shareholdings in three private companies — Khodiyar Consultants Pvt Ltd, Shivbhoomi Corporation Pvt Ltd and Vista Consoles Electronics Pvt Ltd. According to the affidavit, these companies have entered into contracts for supplying goods and services to government departments, public sector undertakings and private companies.
On the legal front, Nathwani has declared no pending criminal cases or convictions. His highest educational qualification is an MBA specialising in Corporate Law and Public Relations Management, completed through a distance education programme in September 2008.