The Enforcement Directorate (ED) on Thursday cracked down on the tainted former Finance Minister P Chidambaram’s family by attaching Rs.54 crores worth assets in the INX media case. The assets were in the name of Chidambaram’s co-accused and son Karti and his company Advantage Strategic Consulting Private Limited (ASCPL). The Bungalows in Jor Bagh in Delhi, Ooty, Kodaikanal, London and the Tennis Academy in Spain are the attached properties including bank deposits. These properties, valued at Rs.54 crores as per the official calculations is expected to be worth over Rs.150 crores.
“Enforcement Directorate has attached assets worth Rs 54 crores under the Prevention of Money Laundering Act (PMLA) of Shri Karti P. Chidambaram and his company Advantage Strategic Consulting Pvt. Ltd. (ASCPL) in INX Media case. The assets include immovable properties in India, the UK, and Spain apart from deposits in banks. An investigation conducted by the Directorate so far shows that for FIPB approval, Peter and Indrani Mukerjea met Finance Minister Chidambaram so that there was no hold up or delay in their application.
How INX Media paid Karti
Chidambaram asked for his son’s business interests to be kept in mind. ED identified payments of Rs. 3.09 crores by Peter Mukerjea to ASCPL and associated entities controlled by Karti through manipulated debit notes. During investigation, it was admitted that debit notes were raised on the directions of Karti P. Chidambaram to show some transaction which in fact did not occur. The money received by associated entities was channeled back into ASCPL. The funds received by ASCPL were invested and ASCPL also purchased shares of Vasan Health Care. A part of these shares was sold at a profit of nearly Rs. 41 crores. ASCPL also earned Rs.18.49 crores from the sale of shares in another company for an amount of Rs.29.49 crores. These funds arising from the sale of laundered property are also assets involved in money laundering. Therefore assets and properties belonging to him and ASCPL were attached in lieu of proceeds of crime,” said ED in the statement.
“The attached assets include, agricultural land in Kodaikkanal, Bungalows in Ooty of ASCPL, Fixed Deposits of Rs.90 lakh in the name of ASCPL with DCB Bank, Nungambakkam Branch, Share of Karti P. Chidambaram in Jor Bagh House and Rs.9,23,46,407/- in the name of Sh. Karti P Chidambaram with Indian Overseas Bank, Nungambakkam Branch have also been attached. The overseas assets in UK i.e Surridge farm, Bathealton, Somerset UK held in the name of ASCPL Singapore and Tennis Club and Land located in Municipality of Gava province of Barcelona Spain in the name of Advantage Estrategia Esportiva S.L.U are also attached. The attached properties collectively amount to Rs. 54 crores.
Efforts are on to trace other proceeds of crime and laundered assets. Further investigation is in progress,” said ED detailing the properties attached.
PGurus had published a detailed report – ‘Chidambara Rahasya’ detailing the amore than Rs.15000 crores worth illegal assets of Chidambaram family, spread across 14 countries.
 Chidambara Rahasya – Details of huge secret assets & foreign bank accounts of Chidambaram Family – Mar 15, 2017, PGurus.com
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