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INX Media case: ED attaches Karti Chidambaram's assets worth Rs 54 crore in India, abroad

news nation 2018-10-11 11:49:00
INX Media PMLA case: ED attaches Karti Chidambaram's assets worth Rs 54 cr in India, UK, Spain

INX Media case: ED attaches Karti Chidambaram's assets worth Rs 54 crore in India, abroad


INX Media PMLA case: ED attaches Karti Chidambaram's assets worth Rs 54 cr in India, UK, Spain



The Enforcement Directorate (ED) on Thursday attached assets worth Rs 54 crore of former Finance Minister P Chidambaram's son Karti Chidambaram in India and abroad in connection with the INX Media money laundering case.

Under the Prevention of Money Laundering Act (PMLA), the probe agency seized Karti's assets in Kodaikanal and Ooty in Tamil Nadu and a flat in Delhi’s Jorbagh. A cottage and house in UK's Somerset and a tennis club in Spain's Barcelona have also been attached by the agency.

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The ED said that the attached assets also included Fixed Deposits worth Rs 90 lakh, kept in a bank in Chennai, in the name of Advantage Strategic Consulting Private Limited (ASCPL).

“The attached assets collectively amount to Rs 54 crore,” the central probe agency said, according to PTI.

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The ED had alleged irregularities in the FIPB clearance given to the INX Media for receiving overseas funds in 2007 when Karti's father P Chidambaram was the finance minister. The agency had also registered a case against him under the money laundering act.