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INX Media Case: ED Attaches Karti Chidambaram's Assets Worth Rs 54 Crore In India, Abroad

Karti Chidambaram was arrested on February 28 by the CBI for allegedly taking money to facilitate the FIPB clearance to INX Media in 2007

INX Media Case: ED Attaches Karti Chidambaram's Assets Worth Rs 54 Crore In India, Abroad
INX Media Case: ED Attaches Karti Chidambaram's Assets Worth Rs 54 Crore In India, Abroad
outlookindia.com
2018-10-11T12:07:47+0530

The Enforcement Directorate (ED) on Thursday attached assets worth Rs 54 crore in India, UK and Spain of Karti Chidambaram and his firm in INX media PMLA case.

The central probe agency issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attachment of Indian assets in Kodaikanal and Ooty in Tamil Nadu and a flat in Delhi's Jorbagh.

A cottage and house in Somerset in UK and a tennis club located in Barcelona, Spain have also been attached as part of the same order, the agency said.

Fixed Deposits worth Rs 90 lakh, kept in a bank in Chennai, in the name of Advantage Strategic Consulting Private Limited (ASCPL) have also been attached, it said.

The assets are in the name of Karti and ASCPL, the firm allegedly linked to him, it said.

"The attached assets collectively amount to Rs 54 crore," it said. 

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. 

Karti Chidambaram was arrested on February 28 by the CBI for allegedly taking money to facilitate the FIPB clearance to INX Media in 2007 when his father was the Union Finance Minister in the United Progressive Alliance (UPA) government. Later, Karti was granted bail.

Karti Chidambaram's chartered accountant S Bhaskararaman was arrested in the case by the ED and he was later granted bail.

(PTI)

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