1 min read.Updated: 18 Apr 2014, 12:50 AM ISTAman Malik
Jayant Sinha holds a 39% stake in Freedom Advisors Pvt. Ltd, in which his wife holds 10%, alongside other business interests
Jayant Sinha, the son of the former finance and foreign minister Yashwant Sinha, is contesting on a Bharatiya Janata Party (BJP) ticket from Hazaribagh in Jharkhand. The constituency is presently represented by his father.
Jayant holds a 39% stake in Freedom Advisors Pvt. Ltd, in which his wife Punita Kumar Sinha holds 10%. Jayant was earlier associated with consulting firm McKinsey and Co. and later with the Omidyar Network, an investment firm established by eBay co-founder Pierre Omidyar.
Punita Kumar Sinha, the founder and managing partner at Pacific Paradigm Advisors, an independent investment advisory and management firm, was associated with the Blackstone Group Lp and is a director on the boards of prominent companies, including JSW Steel Ltd and Srei Infrastructure Finance Ltd.
Jayant’s brother Sumant Sinha, along with his wife Vaishali, controls Renew Power Ventures Pvt. Ltd, Savant Advisors Pvt. Ltd, Savant Ventures (India) Pvt. Ltd, Sivatar Ventures Pvt. Ltd, D and A Constructions Pvt. Ltd and Saurum Power Llp. Renew Power, which has received investments from Goldman Sachs, controls subsidiaries operating in the renewable energy space.
“Punita and I have been completely independent from my parents and their financial affairs. We are not and have never operated as a Hindu undivided family. In fact, Punita and I left for the US in 1985 right after graduating from IIT (Indian Institute of Technology) and thereafter have maintained a fully separate financial life," Jayant Sinha said in a response to queries emailed to his father. “Punita and I have our own professional accomplishments that have led to our various board seats."
Yashwant Sinha said in a separate response: “As far as my sons and daughters-in-law are concerned, they have been financially independent of me for many years. They lead their own lives and I cannot answer on their behalf nor should I be expected to do so."