The Enforcement Directorate (ED) on Tuesday attached four properties worth Rs 11.04 crore belonging to Congress Member of Parliament (MP) Karti Chidambaram in the INX media money laundering case.
In a press release on Tuesday, the ED stated that four properties, three movable and one immovable, in the Coorg district of Karnataka had been attached in accordance with the Prevention of Money Laundering Act, 2002. According to the agency, a complaint under the PMLA has been filed against Karti Chidambaram, M/s Advantage Strategic Consulting Pvt Ltd (ASCPL), and others.
INX media case: ED attaches Karti Chidambaram's four properties worth Rs 11.04 cr
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The Central Bureau of Investigation (CBI) filed an FIR for the conduct of offences punishable under different provisions of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988, which served as the foundation for the beginning of the proceedings, which were started by recording an ECIR.
According to the agency, it was discovered during the ED investigation that several shell companies regulated, beneficially owned, or used by another accused Karti Chidambaram received illegal gratification (proceeds of crime) from M/s INX Media Pvt. Ltd., to which the accused P Chidambaram had granted FIPB approval as the Union Minister of India under UPA rule.
“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 are Rs 65.88 Crore. The money was routed to overseas accounts and investment was made in various overseas properties and shares of companies through various shell companies directly or indirectly controlled by Karti P Chidambaram and through his confidants,” the official statement by ED read.
Notably, Karti Chidambaram’s father and former Finance Minister P Chidambaram are also the primary accused in the INX media case filed by the CBI and the ED. In 2021, the ED also filed a chargesheet in the case in which it said that emails were recovered from seized digital devices that disclose Karti used to consult his father regarding matters related to a company ASCPL “beneficially owned” by him in the past and involved in this case.
In February 2018, Karti was arrested by CBI in the INX media case. Further in October 2018, the ED had attached Karti’s immovable properties worth Rs 54 crore in Delhi, Ooty, Kodaikanal, London and also Spain. An FIR was registered in May 2017, where CBI had alleged there were irregularities in Foreign Investment Promotion Board (FIPB) clearance granted to INX media for foreign funds worth Rs 305 crore.
Indrani Mukerjea, owner and founder of INX media, had alleged that one of Karti Chidambaram’s companies benefitted in exchange for the approval. P Chidambaram had spent over 100 days in custody in a money laundering case filed by Enforcement Directorate (ED) based on FIR by CBI. The father-son duo are also named as accused in Aircel Maxim Scam.
