INX Media case: ED attaches properties of Karti worth ₹11 cr

Enforcement Directorate attaches four properties, three moveable and one immoveable, of Congress MP of Sivaganga, Karti Chidambaram

NEW DELHI | Updated: 19 April, 2023 8:34 am IST
Former Union minister P Chidambaram and his son and Congress MP Karti Chidambaram (right)

Moving ahead in its probe in the INX Media case, the Enforcement Directorate (ED) has attached four properties, valued at ₹11.04 crores, of Congress leader Karti Chidambaram and others.

The ED said that the financial probe agency has attached three movable and one immovable property located in Coorg District in Karnataka valued at ₹11.04 crore belonging to Karti P Chidambaram and others in the case of INX Media Pvt Ltd and others under the provisions of the Prevention of Money Laundering Act, 2002.

The ED said that a probe under PMLA was initiated against Karti P Chidambaram, Advantage Strategic Consulting Pvt. Ltd. (ASCPL) and others by the ED on the basis of an FIR registered by the Central Bureau of Investigation (CBI).

“During the investigation conducted by the ED, it was revealed that illegal gratification was received directly and indirectly from INX Media Pvt. Ltd., to which accused former Union minister and senior Congress leader P Chidambaram had granted FIPB approval, through several shell companies controlled or beneficially owned or used by another accused Karti P Chidambaram,” the ED said.

“Illegal gratification was received in the company of the accused in the name of providing consultancy by the entities from INX Media. The total proceeds of crime laundered over a period of time were worth ₹65.88 crores,” ED said.

“The money was routed to overseas accounts and investments were made in various overseas properties and shares of companies through various shell companies directly or indirectly controlled by Karti Chidambaram and through his confidants,” it claimed.

Karti Chidambaram, who is the son of P Chidambaram, is a sitting MP from the Sivaganga Lok Sabha seat in Tamil Nadu and was arrested in the INX case both by the CBI and the ED. While P Chidambaram was arrested by the CBI in the INX Media case in August 2019.

In October 2019, the ED arrested him in a related money laundering case. He got bail in both cases later.

The CBI filed a case in May 2017, alleging irregularities in the FIPB clearance granted to INX Media Group for receiving overseas funds of ₹305 crores in 2007.

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