CM Siddaramaiah resigns: Shares of Coffee Day Enterprises, which operates Cafe Coffee Day, one of India’s largest coffee retail chains, saw a sharp rise last week. During trading on May 29, the company’s stock reached Rs 34.78, touching the upper circuit of 20%. Due to this, the wealth of investors increased by about Rs 122 crore. The reason for this rise in shares was Siddaramaiah’s decision to resign from the post of Chief Minister of Karnataka. This cleared the way for someone else to take over the reins of the state.

Who will be the next Chief Minister of the state?

According to reports, after the resignation of Siddaramaiah, Karnataka Deputy Chief Minister DK Shivkumar is considered certain to become the next Chief Minister. Ever since the Congress government was formed in Karnataka, there has been a lot of speculation in the political circles about the possible arrangement between Siddaramaiah and Shivakumar to become the Chief Minister by rotation.

Shivakumar’s connection with CCD

Shivkumar is deeply associated with the CCD family. His eldest daughter Aishwarya is married to Amartya Hegde, son of late CCD founder VG Siddhartha. Stock market investors feel that with Shivakumar becoming the Chief Minister, CCD’s business, administrative problems and its old cases can be resolved. Perhaps this might have been the reason that at 11:35 am on May 29, Coffee Day shares were trading at Rs 34.78 per share with a gain of 20%. CCD is currently facing many problems, including fine of lakhs imposed by SEBI for financial irregularities, huge debt, bank default, insolvency etc.

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DK Shivakumar Net worth: Siddaramaiah, who was the Chief Minister of Karnataka, has recently resigned from his post. For this, he reached Raj Bhavan where he submitted his resignation to Governor’s Special Secretary Prabhu Shankar, because Governor Thaawarchand Gehlot was not present there. During this, Siddaramaiah also appeared quite emotional. Now, after him, DK Shivakumar is going to become the new CM of Karnataka.

DK Shivkumar will be the new Chief Minister
Before resigning, Siddaramaiah had a discussion with his cabinet colleagues on Thursday, during which he informed about his decision to resign. It was also told that on the instructions of the Congress high command, Deputy Chief Minister D Shivakumar will be the next Chief Minister. Now since then the property of DK Shivkumar is also being discussed. So let us know how much property DK Shivkumar owns.

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DK Shivakumar’s net worth
The total declared assets of DK Shivakumar are approximately Rs 1,413 crore. According to the affidavit given to the Election Commission, this includes movable assets worth Rs 1,140 crore and immovable assets worth Rs 273 crore. He also has a liability of about Rs 265 crore.

He had given this information during the Karnataka Assembly elections in the year 2023. His declared assets in the year 2018 were Rs 840 crore, which has now increased significantly.

He is fond of expensive cars and watches.
According to the affidavit of DK Shivakumar, he is very fond of expensive cars and classic watches. He owns a registered Toyota Qualis car, watches from expensive brands like Rolex and Hublot. Apart from this, gold, silver and other properties are also in his name.

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Criminal cases are also registered
The affidavit also states that at the time of filing nomination for the 2023 Karnataka Assembly elections, 19 criminal cases were pending against Kanakapura MLA Shivakumar.