Narayan Murthy’s daughter richer than the Queen, husband under fire for not disclosing her wealth: Report

Infosys founder Narayan Murthy’s son-in-law and British Chancellor Rishi Sunak have come under fire for allegedly failing to disclose his wife Akshata Murthy’s financial stakes.

According to an investigation by the British newspaper The GuardianRishi Sunak failed to declare his wife Akshata Murthy’s assets of several million pounds, making her richer than Queen Elizabeth.

Akshata Murthy reportedly owns over £ 430 million (approximately Rs 4,200) in her father Narayan Murthy’s tech giant Infosys.

The Queen’s personal fortune is around £ 350 million (approximately rupees 3,400).

Under UK law, all ministers are expected to openly disclose financial information on close family members.

Rishi Sunak is bound by the ministerial code, according to which he must declare all financial interests that are “relevant” to his responsibility and that could contradict his duty to the public. Ministers must also explain the interests of their close family, including siblings, parents, spouses and in-laws, that could lead to a conflict.

However, an investigation found that Sunak’s financial reports only mention his wife’s ownership of a small UK venture capital company called Catamaran Ventures.

Akshata Murthy’s stake in Infosys is a conflict as the company is a UK government contractor.

According to the Guardian report, Akshata Murthy has undeclared interests in at least six other UK companies and holdings, including a joint venture with Amazon India worth £ 900 million a year.

Now the British government’s ethics watchdog is being called on to investigate the code violations against Rishi Sunak.

However, internal advisers to UK Prime Minister Boris Johnson have reportedly expressed satisfaction with the nature and content of Rishi Sunak’s financial statements and stated that he had followed the minister’s code of conduct closely.

Rishi Sunak, Narayan Murthy’s son-in-law from Infosys, Co-founder of a London-based global investment firm that helps fund UK small businesses. Akshata Murthy, the daughter of Narayana Murthy, was Sunak’s classmate at Stanford Business School. They married in 2009 and have two children – Krishna and Anoushka.

He was elected as a Conservative MP from Richmond, Yorks in 2015, 2017 and 2019. In February 2020 he was promoted from the Secretary General to the Ministry of Finance Chancellor of the Exchequer That’s the equivalent of finance minister.