ED staples Karti Chidambaram’s assets worth Rs 54 crore in India and abroad
Source :NewsBharati   Date :11-Oct-2018

New Delhi, October 11: The Enforcement Directorate (ED) has today attached properties worth about 54 crore rupees belonging to Karti Chidambaram, son of former Union Minister P.Chidambaram.


They include movable and immovable assets in India and abroad. The ED crackdown comes as part of the ongoing investigation into the INX Media case.

However, Karti Chidambaram has termed the development as bizarre and as an attempt to grab media attention. He has said in a tweet, the attachment of the assets cannot stand before judicial scrutiny.

The central probe agency issued a provisional order under the Prevention of Money Laundering Act (PMLA)to attach agricultural land in Kodaikanal, two bungalows in Ooty and fixed deposits worth Rs 90 lakh in the name of 'Advantage Strategic Consulting Pvt Ltd', along with an FD in the name of Karti worth Rs 9.23 crore.

For the first time, foreign assets have also been attached in this case, which includes a cottage in the UK and a tennis club in Spain. Properties of Indrani and Peter Mukerjea have also been attached by the ED.

The ED had registered a PMLA case in this deal case on the basis of a CBI FIR and had alleged that irregularities took place in the FIPB clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when his father P Chidambaram was the Union finance minister. The ED had grilled Karti in this case in the past.