At last tainted Chidambaram family charged under Black Money Act. Illegal assets expected to be worth three billion dollars

IT Department slaps 4 cases on the Chidambaram family under the Black Money and Benami Act

IT Department slaps 4 cases on the Chidambaram family under the Black Money and Benami Act
IT Department slaps 4 cases on the Chidambaram family under the Black Money and Benami Act

The much awaited moment has come. Former Finance Minister P. Chidambaram’s family has been booked under Black Money Act for illegal assets in several countries and for operating illegal foreign bank accounts. On Friday, the Income Tax department filed four charge sheets in a Chennai city court against Chidambaram’s wife Nalini, son Karti and his wife Srinidhi under Section 50 of the Black Money Act, which implies a fine of 120 percent and 10 years imprisonment.

The present charge sheets are for not disclosing, either partly or fully, immovable assets like the one at Cambridge in the United Kingdom worth Rs. 5.37 crores, property worth Rs. 80 lakhs in the same country and assets worth Rs.3.28 crore in the U.S., said the charge sheets[1].  All the accused are asked to appear before the Court on June 11. Chidambaram’s family tried every trick in the book to evade from the case by filing frivolous petitions and last week the Madras High Court rejected them.

Apart from the property in Cambridge, Karti Chidambaram’s investment of Rs.3.28 crores and Rs.80 lakhs in Nano Holdings LLC in USA and assets and accounts in Totus Tennis in UK also came under the charges framed by Income Tax under Black Money Act[2]. Karti’s firm Chess Global Advisory is also caught by the Income Tax sleuths.

As per the Income Tax estimates, Chidambaram family’s illegal assets in 14 countries and 21 foreign bank accounts are expected to be worth three billion dollars. Summary of these ill-gotten assets was detailed by PGurus in an article titled Chidambara Rahasya[3].

Chidambaram family’s illegal assets came to light after the joint raid of Enforcement Directorate and Income Tax in connection with the Aircel-Maxis scam in December 2015. Chidambaram was calling favors in the Finance Ministry to hush up the findings. The Income Tax documents were made public by BJP leader Subramanian Swamy in February 2017[4]. He later filed a complaint to Prime Minister Narendra Modi for registering cases under new Black Money and new Benami Acts[5].

Even after Prime Minister’s strict directions, some of the top officials in the Finance Ministry were playing tricks to delay the probes and giving space for the accused to approach the courts[6]. It is expected that after the imposition of Black Money Act, the agencies will invoke the new Benami Act one of the most corrupt families in the country.

References:

[1] Swamy exposes hidden property of Chidambaram in Cambridge & kickbacks taken by son KartiMar 14, 2017, PGurus.com

[2] IT unearths a possible Five Million Euro investment by Karti Chidambaram in Hotel Mozart in CroatiaApr 12, 2017, PGurus.com

[3] Chidambara Rahasya – Details of huge secret assets & foreign bank accounts of Chidambaram familyMar 15, 2017, PGurus.com

[4] Subramanian Swamy exposes 21 secret foreign bank accounts of Karti ChidambaramFeb 20, 2017, PGurus.com

[5] Swamy urges PM to prosecute Chidambaram and family under the new Black Money and Benami Acts alsoMar 26, 2017, PGurus.com

[6] Sleazy officer U S Kumawat shunted out after PM’s interventionMar 30, 2018, PGurus.com

Team PGurus

We are a team of focused individuals with expertise in at least one of the following fields viz. Journalism, Technology, Economics, Politics, Sports & Business. We are factual, accurate and unbiased.

20 COMMENTS

  1. We keep hearing that there are officials in Finance, Home and other ministries still serving the Chidambarams and providing them information to help them escape the noose. Why has the Narendra Modi government not taken action against them? Such people should have been warned a long time ago. In the Nirav Modi case, Mr. Subramaniam Swamy has named the Finance Secretary so many times. Why does the PMO watch silently?

  2. This is not featured directly in any of the digital media, except the questions raised by Niramala Seetharaman.

  3. The Officials of Income Tax and Investigating Agencies should be grateful and sincere to their job and discharge their responsibilities dispassionately. Political corruption is the root cause for all the ills of our country and this has emboldened every layer of the society to enlarge corrupt practices which will collapse this country at a later date. So, corrupt people should be punished severely.

  4. Not taking away the fact that PC is a corrupt politician, but the facts in your article leave a huge gap in assest evaluation. The benami properties you have mentioned are in Rs. Crores and Lakhs but the total quickly estimates to $3 Bn. Basis or source of this high estimate is not provided.

  5. Filing charge sheet is OK . but will it be translated to an immediate case .hearing and quick punishment , can any one hope in this country ?

    • Its a golden question. We need to answer it. Supreme Court kindly need to call a midnight court against these vip frauds who had cheated the whole nation.

  6. Team P Gurus, Congratulations on your patriotic team work. No wonder why the Press in India has recently published the utterances of Mr. Chidambaram to the effect that, “the people of the country are facing serious threat under the BJP Govt” for the Cunny Congress “people of the Country” always meant, “Congress leaders” But I am at a loss to see as to why the Press as a whole donot publish these startling news, and so does the Govt. keep silent without bringing into the court of the people of the country who all have a right to know it.

  7. Good…steps by central government.
    If the (ex) finance minister has accumulated so much illegal assets then can’t imagine how much the masters (Sonia n family) would have saved.
    Also dmk assets digging, in India and foreign countries would also make India a rich country.

  8. Subramaniam Swamy single handedly done many goods to India than entire Khangress or BJP. He also stopped Italian Bar Maid from becoming PM.
    He is responsibile for fixing the Khangress in 2G & Coal Scam
    He is responsible for giving holy access to Mansarovar to Hindu pilgrimage

  9. No defence should be allowed,even officials from finance ministry should be made to face music for supporting their former boss……most honest , intelligent and capable finance minister under the nose of our ex prime minister.

  10. As politicians often say, let law takes its own course, but let the course not be allowed to be manipulated, procrastinated and finally weakened with diluted presentation before the court to facilitate acquittal, as is more often than not, the case. PC must stop lecturing or commenting on govt.policies as if he is a mr.clean.

  11. It is a long delayed but welcome development but the chicken cannot be counted until the eggs are hatched. Our courts move so lethargically no accused , especially the well oiled ones, need to lose any sleep. If they do not get anticipatory bails but come out on regular bail, even that is as good as aquittal. Jayalalitha managed to delay the cases against her for nearly two decades,

    • Excellent point raised by k.sundaram!
      We must never forget that Justice DELAYED is as good as Justice DENIED.

      The point to note is that such liberties (as has been enjoyed by Chidambaram & co) are available only to the rich and the mighty or those in the upper echelons of power. Any common man would have been dragged into jail at the earliest instance even on mere suspicion. (Here in Kerala, the Police is literally torturing and killing people in the name of mere suspicion) All ought to be treated equally before law, however, some seem to always enjoy special privileges than others.

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