The law catches up with the former Finance Minister P Chidambaram’s family in the hotel grabbing case in connivance with Indian Overseas Bank. Delhi High Court (HC) on Tuesday asked Central Bureau of Investigation (CBI) to file a status report on the probe by July 25 in the hotel grabbing case by Chidambaram’s wife Nalini’s sister Padmini in collusion with corrupt Indian Overseas Bank officials. The HC was acting on the complaint filed by Dr. Kathirvel the former owner of the Comfort Inn in Tirupur. He had approached CBI on arm-twisting by the bank and Chidambaram’s wife Nalini to grab his hotel by Padmini.
According to the complaint, the Bank cheated him and conducted a farce auction and allotted the hotel to Padmini at a very cheap rate of Rs. 4.5 crores ($675,000).
Kathirvel is a businessman in his late 40s, and runs a hotel, poultry, education and real estate business in the southern states. According to his complaint to CBI, in 2007, ‘Comfort Inn’, a hotel in Tirupur in which he was a partner, was grabbed by Padmini, sister of Chidambaram’s wife Nalini with the help of top management of Indian Overseas Bank (IOB). The hotel is worth more than Rs. 10 crores ($1.5 million) and had a loan due of Rs. 2.5 crores ($375,000) with the IOB and IOB declared the loan as a Non-Performing Asset (NPA) and announced auction. Kathirvel approached Madras High Court and later Debt Recovery Tribunal and paid Rs. 64 lakhs ($96,000) to the IOB to avoid auction. Chidambaram was the Finance Minister then.
After receiving Rs. 64 lakhs ($96,000), the Bank promised cancellation of auction. According to the complaint, the Bank cheated him and conducted a farce auction and allotted the hotel to Padmini at a very cheap rate of Rs. 4.5 crores ($675,000). The hotel’s value was more than Rs. 10 crores ($1.5 million) and all of a sudden Padmini with the help of mob of goons barged into the hotel and forcefully acquired the hotel. PGurus reported the full details of this case: https://www.pgurus.com/businessman-kathirvel-files-complaint-cbi-chidambaram-family-iob-hotel-grab/.
Nalini was the advocate of Padmini and upon Kathirvel’s complaint, Chidambaram the then Finance Minister claimed that he had directed Nalini to leave the case of sister. In his letter to Kathirvel, Chidambaram pretended innocence. Kathirvel also produced Nalini’s audio and transcripts with him in forcing him to leave the hotel. She even gave him compensation of Rs.2.5 crores in a cheque.
Arguing for Kathirvel, Advocate Yatinder Chaudhary said this is a clear case of abuse of power by the Finance Minister’s family using banks to grab the properties they wish. He pointed out that even after clearing the dues, the Bank went against with a mock auction to allot the hotel to Finance Minister’s sister-in-law and the IOB officials are still harassing his client. Justice R K Gauba asked CBI’s advocate why the agency has not acted till date. Judge directed CBI to its submit status report by July 25th.
Note:
1. The conversion rate used in this article is 1 USD = 66.71 Rupees.
2. Text in Blue points to additional data on the topic.
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The cunning family of PC is notorious All the misdeeds will come out so long Congress is kept out of power, as otherwse when they come back to power CBI and even judiciary may delay according to whims of ruling party
This family is real Mafia. Educated Crooks
My wish at any cost chidambaram, his wife and in law to be funished. The Judges will understand the truth , not expecting eye witness for corruption. I want to say one thing no one do mistake keeping a witness
Sir, instead of blaming the former Finance Minister, we should blame the systems and checks, Independent India has developed over the decades. Our banking system is corrupt, our ministers are corrupt and no party including the BJP is above board.
We should hang our head in shame. Contrast this with the United States. Former President Barack Obama and his family are now living in a rented house after leaving office. According to me, USA is the least corrupt among the nations and that is why, it is the super power. While Hindu India is very corrupt? Who is to blame for this? Just think and THINK LOUD!
Modi govt shud arrest IOB officials who conducted the farcical auction. Also, why does the CBI need prodding by the court?
May be these greedy politicians expecting to use currency bundles to burn their bodies when they died, instead of firewood. Let us pray for their death so that they don’t need to do any further accumulation of wealth.
When money overrule conscious of a human being greed rules his mind and PC like people will surface on this earth to destroy morality.Trecherous is thy name of them.
It’s plain disgusting to read this story. What kind of a family is this of Chidambaram? And it’s doubly disgusting to find Chidambaram writing his nasty column in a major English newspaper week after week. It’s high time that the newspaper socially boycotted Chiddu. In fact, social boycott is the only way to deal with him. Also, the media as a whole should avoid giving any coverage to the activities of the likes of Chiddu. Meanwhile, the Central government should go hammer and tongs after all such politicians and people who are a big black spot on the good name of India. By the way, how many have noticed that, with several media stories accusing Chiddu and his son of guzzling black money, Chiddu refused his right to speak on the GST Bill in the Rajya Sabha in the last Parliament session?
PC Family means Pucca Chorr Family
Is there no point of satiation in the accumulation of filthy lucre even for persons who have the stuff in sackfuls?