The Enforcement Directorate (ED) on Thursday said it had attached properties worth ₹54 crore of former Union Minister P. Chidambaram's son Karti Chidambaram and a company in India, Spain and the United Kingdom in the INX Media case.
“The attachments include assets belonging to Mr. Karti-controlled company Advantage Strategic Consulting Private Limited (ASCPL),” said an ED official.
Properties belonging to Karti Chidambaram seized by the Enforecement Directorate in connection with the INX Media case.
The list includes an agricultural land in Kodaikanal, bungalows in Ooty, land and property in Delhi’s Jorbagh, a house, cottage, stone barn and land in the U.K., besides a tennis club and land in Barcelona.
Fixed deposits worth ₹90 lakh in the company’s name, and ₹9.23 crore in the name of Mr. Karti in Indian Overseas Bank, have also been attached, the ED said.
The ED had alleged that the then INX Media directors, Peter and Indrani Mukerjea, had met Mr. P. Chidambaram pertaining to an FIPB (The Foreign Investment Promotion Board) approval.
They were allegedly asked to keep Mr. Karti's business interests in mind, said the ED. Both father and son have denied the allegation.
The ED said it had identified payment of ₹3.09 crore by Mr. Mukerjea to ASCPL and associated entities “controlled” by Mr. Karti through “manipulated” debit notes.
The money received by the associated entities was channelled back into the company and it also purchased shares of Vasan Health Care. A part of these shares were sold at a profit of nearly ₹41 crore.
ASCPL also earned ₹18.49 crore from sale of shares in another company for an amount of ₹29.49 crore, said the ED.
Not based on law, says Karti
Reacting to the ED move, Mr. Karti took to Twitter to say: "A bizarre and outlandish 'Provisional Attachment Order' which is not based on law or facts but on crazy conjectures. This is meant only to grab 'headlines'. The 'order' will not withstand judicial scrutiny, review or appeal. Will approach the appropriate legal forum."
