New Delhi: UK chancellor and Narayan Murthy’s son-in-law and Rishi Sunak on Wednesday came under fire after it was understood that he did not disclose his wife Akshata Murthy’s financial holdings. Also Read - TCS 3rd Most-Valued IT Services Brand Globally, Infosys & HCL Also Secure Spots in Top 10
As per an investigation done by British newspaper The Guardian, Sunak failed to disclose his wife Akshata Murthy’s assets which make her richer than Queen Elizabeth in the UK. Rishi Sunak came under fire as in the UK, all ministers are supposed to openly publish financial details of close family members. Also Read - Infosys Records 16.6% Growth in Q3 Net Profit at Rs 5197 Crore, CEO Calls It ‘Excellent Result’
As per the reports, Akshata Murthy owns shares worth over £430 million (approx Rs 4,200 crore) in her father Narayan Murthy’s tech giant Infosys. In comparison, the Queen’s personal wealth is around £350 million (approx Rs 3,400 crore). Also Read - Rolls-Royce, Infosys Ink Partnership For Aerospace Engineering in India
Bound by the ministerial code, Rishi Sunak should have declared the financial interests of his wife that are “relevant” to his responsibilities. However, the probe found that Sunak’s financial statements mention only his wife’s ownership of a small UK-based venture capital firm called Catamaran Ventures.
As per updates, the Akshata Murthy’s shares in Infosys present a conflict as the company is a contractor to the UK government. But the report suggested that Akshata has undeclared stakes in at least six other UK companies including a £900 million-a-year joint venture with Amazon India.
Based on the report by the newspaper, calls are being made for the UK government ethics watchdog to investigate the allegations against Sunak.
Sunak has co-founded a London-based global investment firm which helps in funding small British businesses.