ED attaches Karti Chidambaram’s  properties

ED attaches Karti Chidambaram’s  properties


The Enforcement Directorate (ED) on Thursday attached around Rs 54 crore worth properties and bank deposits of Karti Chidambaram, son of former Finance Minister P Chidambaram, in connection with INX Media case.

The assets were attached under the Prevention of Money Laundering Act.

The properties include land worth Rs 16 crore Jor Bagh in New Delhi, in which Karti's mother and senior advocate Nalini Chidambaram also has stake. Besides, it attached  bungalows in  Ooty and Kodaikanal , a cottage worth Rs 8.67 crore in Somerset in UK, and a tennis club and land  in Barcelona, Spain valued at Rs 14 crore.

The probe agency has also attached fixed deposits worth Rs 90 lakh, kept in a bank in Chennai, in the name of  Karti's firm  Advantage Strategic Consulting Private Limited (ASCPL).

The ED also  attached properties belonging to Peter and Indrani Mukerjea of the INX  media in connection with the same case.

Karti is facing cases by the ED and the Central Bureau of Investigation (CBI) relating to  alleged irregularities in the clearances given by the Foreign Investment Promotion Board to then INX Media for FDI in 2007 and the Aircel-Maxis case in 2006  when his father P Chidambaram was Union Finance Minister.

Karti was arrested on Feb 28 by the CBI for allegedly taking money to facilitate the FIPB clearance to INX Media in 2007. He is on bail.

Terming the attachment order as "bizarre and outlandish", Karti Chidambaram tweeted that he would approach the appropriate legal forum.