INX Media case: ED attaches Karti Chidambaram's assets worth Rs 54 crore, fixed deposits worth Rs 90 lakh

New Delhi: The Enforcement Directorate (ED) on Thursday attached assets worth Rs 54 crore in India, the UK and Spain allegedly belonging to Karti Chidambaram and Advantage Strategic Consulting Private Limited (ASCPL) in connection with the INX Media case. Fixed deposits worth Rs 90 lakh in the name of ASCPL with DCB Bank, Nungambakkam Branch, and Rs 9,23,46,407 in Karti's name oat the Indian Overseas Bank, Nungambakkam Branch have also been attached.

File image of Karti Chidambaram. News18

File image of Karti Chidambaram. News18

An investigation conducted by the ED so far shows that for FIPB approval, Peter and Indrani Mukerjea met former finance minister P Chidambaram to ensure there was no hold up or delay in their application. P Chidambaram asked for his son's business interests to be kept in mind. The ED identified payments of Rs 3.09 crore by Peter to ASCPL and associated entities controlled by Karti through manipulated debit notes.

During the investigation, it was noted that debit notes were raised on the directions of Karti to show some transaction that did not in fact occur.

The money received by associated entities was channelled back into ASCPL. The funds received by ASCPL were invested and ASCPL also purchased shares of Vasan Health Care. A part of these shares were sold at a profit of nearly Rs 41 crore.

ASCPL also earned Rs 18.49 crore from sale of shares in another company for an amount of Rs 29.49 crore. These funds arising from the sale of laundered property were also laundered.

Officials said efforts are on to trace other proceeds of crime and laundered assets.

Here are the details of assets attached :

S No
Description of the property
Location
Value
Registered in Name of
1.
Agricultural Land
Kodaikanal
Rs.25 lacs
ASCPL
2.
Colladia at Ooty (Bunglow)
Ooty
Rs.3.75 Crore
ASCPL
3
Bunglow at Kothagiri, Ooty Distt. Tamil Nadu
Kothagiri, Ooty
Rs.50 lacs
ASCPL
4
Land and property
Jorbagh, New Delhi
Rs. 16 crore (50% share of Karti Chidambaram)
Karti Chidambaram and Nalini Chidambaram

The following overseas properties have also been attached:

S No
Description of the overseas property
Address
Value
Registered in Name of
1
House, cottage, Stone barn and land
Surridge farm, Bathealton, Somerset, TA4 2AS, UK
Rs.8,67,81,250
Advantage Strategic Consulting Pte. Ltd., Singapore.
2
Tennis Club and Land located in Municipality of Gava province of Barcelona
Camino Del Riuet, Gava, Barcelona, Spain
Rs.14,57,62,385
Advantatge Estrategia Esportiva S.L.U

 

Properties of Karti Chidambaram


Updated Date: Oct 11, 2018 13:53 PM

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