Aircel-Maxis scam: ED attaches Karti’s assets worth Rs.1.16 crores

1 crore seized from Aircel-Maxis proceeds of Chidambaram, Rs. 5,99,999 to go...

1 crore seized from Aircel-Maxis proceeds of Chidambaram, Rs. 5,99,999 to go...
In connection with Aircel-Maxis deal, properties worth 1cr., of Palaniappan Chidambaram and Karti Chidambaram attached

At last the law catches up with former Finance Minister P Chidambaram and his son Karti in the Aircel-Maxis scam. On Monday, the Enforcement Directorate (ED) attached assets worth Rs. 1.16 crores of Karti, declaring it as a bribe from the Aircel-Maxis scam. The ED said that it has issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) attaching assets “of Karti in the form of fixed deposits and balance in saving bank account to the tune of Rs. 90 lakhs approximately.”

This is but a drop in the bucket of the assets of the Chidambarams. Karti has boasted on Twitter that he has a net worth of Rs. 6,00,000 crores ($93 billion). Well, it is now less by 1 crore.

The ED said that Karti’s companies got Rs. 26 lakhs and Two lakh dollars ($200,000) from subsidiaries of Maxis after father Chidambaram illegally approved the Foreign Investment Promotion Board (FIPB) clearance. Karti’s companies Advantage Strategic Consulting and Chess Management Services received the “proceeds of the crime” in the illegal FIPB approval given by Chidambaram in 2006.

The ED is probing the Aircel-Maxis deal after taking cognizance of a Central Bureau of Investigation (CBI) First Information Report (FIR) in the case. Karti has not yet appeared before CBI even after repeated summons. The Aircel- Maxis deal was more than Rs. 4000 crores and Chidambaram approved the FIPB clearance in 2006. In those days FIPB clearances exceeding Rs.600 crores had to get approval from Cabinet Committee on Economic Affairs (CCEA). But Chidambaram did not send this file to CCEA. BJP leader Subramanian Swamy who exposed Aircel-Maxis scam in his petition before Supreme Court said that Chidambaram had purposefully not sent the file to CCEA because the Home Ministry would have objected to the deal. In Maxis, Saudi Telecom had controlling shares and Saudi Telecom also had controlling shares in the Pakistan Telecom company PTCL. So this deal would not have been approved. That is why Chidambaram went around the CCEA and approved the deal, said Swamy in his petition.

This is but a drop in the bucket of the assets of the Chidambarams. Karti has boasted on Twitter that he has a net worth of Rs. 6,00,000 crores ($93 billion). Well, it is now less by 1 crore.

Team PGurus

6 COMMENTS

  1. C is too clever to risk another election.He won the last by devious means and has succeded in delaying a verdict on the election petition for 8 years so far.

  2. The other drops must also be collected, deop by drop. Remember the poem.
    Little drops f water
    Little grains of sand
    Make the mighty ocean
    And the pleasant land.
    What do these people do with so much money, beyond the dreams of avarice? Is this a compulsive condition like alcoholism and gluttony.

  3. That is peanuts for him Any jail term? That is what needed Both in jail for more than 4 years so that they can not contest in elections in the near future- preferably rest of their life

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