Karti Chidambaram’s assets worth Rs 54 crore seized

Giving a big jold to senior Congress leader and former union finance minister P Chidambaram, his son Karti Chidambaram’s assets worth Rs 54 crore in India and abroad have been attached by the Enforcement Directorate (EC) in connection with the INX media case. The assets seized by the directorate include residential properties in the national capital’s Jor Bagh, Ooty and Kodaikanal, as well as UK, and Spain’s Barcelona.

The agency issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attachment of Indian assets in Kodaikanal and Ooty and a flat in Delhi’s Jorbagh. Foreign properties including 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.

Kirti called the order attaching his assets as “bizarre and outlandish”. In a tweet minutes after news of the ED’s seizure broke, Karti insisted the provisional attachment order “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,” he said.

ED said it has also attached fixed deposits worth Rs 90 lakh, kept in a bank in Chennai, in the name of Advantage Strategic Consulting Private Limited (ASCPL). All the assets are in the name of Karti and ASCPL, the firm allegedly linked to him.

Karti Chidambaram has been accused of receiving kickbacks a decade back to clear foreign investment into INX Media group, using the influence of his father who was then a cabinet minister. Apart from the CBI, which is probing the bribery case, the former minister’s son also faces allegations that he laundered the bribe money.

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