National / World

ED raids Karti Chidambaram's premises in Delhi, Chennai


New Delhi, Jan 13 (PTI): The Enforcement Directorate (ED) today conducted searches at multiple premises linked to Karti Chidambaram, the son of Congress leader P Chidambaram, in connection with its money laundering probe in the Aircel- Maxis case.

Official sources said the raids are being conducted in Delhi and Chennai since early morning.

The central probe agency, on December 1 last year, had conducted similar searches on the premises of a relative of Karti and others in this case.

The ED case pertains to the Foreign Investment Promotion Board (FIPB) approval granted in 2006 by the then finance minister P Chidambaram.

The agency had said it is investigating the circumstances of the said FIPB approval granted by the then finance minister (P Chidambaram)".

The ED also alleged that Karti has "disposed" of a property in Gurgaon, which he had allegedly rented out to a multinational company "to whom foreign direct investment (FDI) approval had been granted in 2013".

It charged that Karti had "also closed certain bank accounts and attempted to close other bank accounts in order to frustrate the process of attachment" under the PMLA.

The agency said FIPB approval in the Aircel-Maxis FDI case was granted in March, 2006 by the then FM even though he was competent to accord approval on project proposals only up to Rs 600 crore and beyond that it required the approval of the Cabinet Committee on Economic Affairs (CCEA).

"In the instant case, the approval for FDI of 800 million USD (over Rs 3,500 crore) was sought. Hence, CCEA was competent to grant approval.

"However, approval was not obtained from CCEA," it alleged.


Comment on this article

  • SMR, Karkala

    Sun, Jan 14 2018

    Selective journalism dangerous for Indian democracy.
    If journalism fears for ED , IT and CBI then its lost from 'True Journalism'.
    It was then Jaya TV, Kartik, Zakir Naik and every common citizen is not far away.

    Jai Hind

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  • dominic-dsouza-Rudy, mudarangady mauritius

    Sat, Jan 13 2018

    ED raids Chidambaram son premises why not raids jay shah premies

    DisAgree Agree [3] Reply Report Abuse

  • geoffrey, hat hill

    Sat, Jan 13 2018

    Chidambaram has called this operation ' a comedy of errors'

    DisAgree Agree [3] Reply Report Abuse

  • Moshu, Mangaluru

    Sat, Jan 13 2018

    Revenge politics is common in any part of the world. ED obviously will work for the ruling party. Few days back Tribunal judge slams ED over 'speedy action' against Zakir Naik, but 'zero action' against Asaram, Ram Rahim and other babas....

    DisAgree Agree [3] Reply Report Abuse

  • Ravi C, Mangalore

    Sat, Jan 13 2018

    One more attempt, after a break.

    DisAgree Agree Reply Report Abuse

  • Vincent Rodrigues, Bengaluru/Katapadi

    Sat, Jan 13 2018

    Why ED is struggling to find any substantial evidence to frame charges against the father and son

    DisAgree Agree [4] Reply Report Abuse

  • mahesh, Mangalore

    Sat, Jan 13 2018

    It could be noted that Meera Arun, wife of CMD of Vasan Health Care Pvt Ltd AM Arun –had earlier admitted that she was a dummy director in Vasan Health Care. Meera had admitted that her shares were transferred to her father V Dwarkanathan. Dwarkanathan’s 15,000 shares were reportedly sold to Karti Chidambaram’s ASCPL at a rate of Rs 100 per share.
    AM Arun had admitted before the investigation agency that while he was looking to expand the eye care business and required foreign funding for the same and it was Karti Chidambaram who had recommended to him an investment consultancy company called M/s Spark Capital Advisors. There are allegations that Karti had used Vasan Healthcare to launder black money. The enforcement directorate (ED) has served notices on Vasan Health Care and Karti Chidambaram for breach of the Foreign Exchange Management Act (FEMA).

    DisAgree [2] Agree [3] Reply Report Abuse

  • mahesh, Mangalore

    Sat, Jan 13 2018

    As the investigative agencies dig the details into the dubious business operations undertaken by former finance minister P Chidambaram’s son Karti-owned Advantage Strategic Consulting Pvt Ltd (ASCPL), more skeletons are tumbling out of the closet.
    According to reports, the Enforcement Directorate investigation has found that a certain Padma Bhaskararaman – a school teacher – was made the promoter and director of the ASCPL in order to conceal the real identity of people controlling the business. This has been revealed in a report prepared by the ED.
    Padma is the wife of Karti’s close aide S Bhaskararaman, another director of ASCPL. It has been further revealed that Padma’s brother Ravi was also projected as promoter of ASCPL to conceal Karti’s identity. The Enforcement Directorate probe suggests that all directors of ASCPL – CBN Reddy, Ravi Vishwanathan and S Bhakararaman – acted as per the instructions from Karti. And it was S Bhaskararaman who played an extensive role in the day to day affairs of ASCPL.

    DisAgree [3] Agree [2] Reply Report Abuse

  • Declan, Mumbai

    Sat, Jan 13 2018

    All ED could find after raiding were some fresh steaming hot idlis and sambar which were confiscated and sent for forensic examination. lol !

    DisAgree [2] Agree [6] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Sat, Jan 13 2018

    ED Raid but so far not succeeded in framing charges against father and son.

    DisAgree [1] Agree [5] Reply Report Abuse

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Title : ED raids Karti Chidambaram's premises in Delhi, Chennai


 
 
 
 

 
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