INX media money laundering case: ED raids Karti Chidambaram's premises today

INX media money laundering case: ED raids Karti Chidambaram's premises today

The Enforcement Directorate on Thursday issued fresh summons to Karti Chidambaram, son of the former Union Minister, P. Chidambaram, for recording his statement in the case of alleged irregularities in the receipt and use of foreign direct investments by INX Media. The raids on senior Congress leader P. Chidambaram's son Karti's properties in Delhi and Chennai were carried out in connection with the INX Media money laundering case. However, according to a leading daily, the raiding officials while speaking on searches being conducted at Karti Chidambaram's premises said that they are investigating the circumstances of the said FIPB approval granted by the then finance minister P Chidambaram.

Also few days before the CBI had lodged the FIR against Karti Chidambaram and the Mukerjeas on charges of criminal conspiracy, cheating, getting the illegal indulgence, influencing public servants and criminal delinquency.

The raids are a part of an ED investigation into a money laundering case registered past year against Karti Chidambaram.

The Enforcement Directorates is the only one who provided the information to the CBI about the alleged payment made by INX media based on The Central Bureau of Investigation filed its FIR.

The raids took place after Chidambaram failed to appear before the ED. Nothing was recovered from Karti's house during the raid.

"There are obviously no proceeds of crime and the ED has no jurisdiction under the Prevention of Money Laundering Act (PMLA)", he added. "It's a comedy of errors that my Chennai residence and Delhi residence have been raided thrice and the ED has found nothing". The raids were conducted in connection with a money laundering case.

It also found that the company promoted by Karti and P Chidambaram's nephew allegedly received two lakh dollars from Maxis Group in guise of software consultancy.

The agency said FIPB approval in the Aircel-Maxis FDI case was granted in March, 2006 by the then FM even though he was competent to accord approval on project proposals only up to Rs 600 crore.

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