ED Freeze Karti Chidambaram’s Assets and Bank Accounts

Afeefa

Chennai, September 26, 2017.

Former Finance Minister P.Chidambaram’s son Karti Chidambaram is being probed for receiving alleged kickbacks in getting Foreign Investment Promotion Board (FIPB) clearance in the Aircel Maxis deal when his father was union Finance Minister, according to news reports.

The Enforcement Directorate has attached assets worth over Rs. 1.16 crore and frozen Karti Chidambaram’s bank accounts. According to the ED, Karti Chidambaram was trying to sell most of his assets and close certain bank accounts.

               Allegations against Karti Chidambaram in the Aircel-Maxis Case has strengthened due to the report from EDAccording to the ED, the investigation into Aircel Maxis case showed that a company promoted by Karti and A Palaniappan – a nephew of P Chidambaram – received USD 200,000 from Maxis Group in the guise of software consultancy.

According to India Today, the Enforcement Directorate has frozen bank accounts including fixed deposits worth Rs 90 lakh of Karti Chidambaram. The ED has taken action against Karti Chidambaram in connection with Aircel Maxis case.

During investigation, the ED found that the FIPB approval given in the Aircel Maxis case was decided by then Finance Minister P Chidambaram exceeding his mandate.

P. Chidambaram, is alleged to have used his power to approve the FIPB on his own, though it was supposed to go the Cabinet of Economic Affairs. The Enforcement Directorate (ED) in its investigation found out that the FIPB approval was wrongly projected in the case,to conceal the facts.

Senior leader Subramanian Swamy accused the Central Bureau of Investigation, Enforcement Directorate and top bureaucrats in finance ministry of going easy on cases related to Chidambaram and  Karti Chidambaram. In a letter written to Prime Minister Narendra Modi, he listed Karti Chidambaram’s assets and off-shore links.

Swamy had earlier in February alleged that Karti Chidambaram and his father were the chief conspirators in Aircel-Maxis deal in which Maran brothers are accused of wrongdoing. Swamy went on saying, “Karti in an election affidavit said he doesn’t have a single foreign bank account. But I am producing a list of his off-shore interests. I am sending all these copies to the prime minister. I want that he orders an inquiry into it. Our party’s credibility needs to be protected.”

In a recent tweet, Swamy goes:

According to the ED, the investigation into Aircel Maxis case showed that a company promoted by Karti and A Palaniappan – a nephew of P Chidambaram – received USD 200,000 from Maxis Group in the guise of software consultancy.

Karti recently sold a house in Gurgaon, which the ED was planning to attach. This house was given on rent to a company that was granted FIPB approval by P Chidambaram, reports News Minute.

According to The Economic Times, the agency said it was investigating  the circumstances of the approval granted by Chidambaram.
 Chidambaram said ED’s statement “cleverly skirts the issue of jurisdiction of the ED when the only charge sheet filed in the case has been quashed”. He claimed that Foreign Investment Promotion Board officials, who were examined by the CBI, had affirmed that the board had correctly approved and recommended the case and placed the minutes before the then finance minister (who was the competent authority) for approval.

ED, in its press statement said that Chidambaram’s son and his companies had benefited by facilitating the approvals.

 

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