INX Media money laundering case: ED attaches Karti Chidambaram’s properties worth Rs 11.04 crore
The Enforcement Directorate (ED) on Tuesday connected 4 properties worth Rs 11.04 crore belonging to Congress Member of Parliament (MP) Karti Chidambaram throughout the INX media money laundering case.
In a press launch on Tuesday, the ED stated that 4 properties, three movable and one immovable, throughout the Coorg district of Karnataka had been connected in accordance with the Prevention of Money Laundering Act, 2002. According to the corporate, a grievance under the PMLA has been filed in opposition to Karti Chidambaram, M/s Advantage Strategic Consulting Pvt Ltd (ASCPL), and others.
INX media case: ED attaches Karti Chidambaram’s 4 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 completely completely different provisions of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988, which served because the muse for the beginning of the proceedings, which had been started by recording an ECIR.
According to the corporate, it was discovered by the ED investigation that plenty of shell companies regulated, beneficially owned, or utilized by one different accused Karti Chidambaram acquired illegal gratification (proceeds of crime) from M/s INX Media Pvt. Ltd., to which the accused P Chidambaram had granted FIPB approval as a result of 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 assertion by ED be taught.
Notably, Karti Chidambaram’s father and former Finance Minister P Chidambaram are moreover the primary accused throughout the INX media case filed by the CBI and the ED. In 2021, the ED moreover filed a chargesheet throughout the case by which it said that emails had been recovered from seized digital items that disclose Karti used to hunt the recommendation of his father referring to points related to a company ASCPL “beneficially owned” by him thus far and anxious on this case.
In February 2018, Karti was arrested by CBI throughout the INX media case. Further in October 2018, the ED had connected Karti’s immovable properties worth Rs 54 crore in Delhi, Ooty, Kodaikanal, London and as well as Spain. An FIR was registered in May 2017, the place CBI had alleged there have been irregularities in Foreign Investment Promotion Board (FIPB) clearance granted to INX media for abroad funds worth Rs 305 crore.
Indrani Mukerjea, proprietor and founding father of INX media, had alleged that thought of one among Karti Chidambaram’s companies benefitted in change for the approval. P Chidambaram had spent over 100 days in custody in a money laundering case filed by Enforcement Directorate (ED) based mostly totally on FIR by CBI. The father-son duo are moreover named as accused in Aircel Maxim Scam.
