ED seizes Rs 8.6 crores worth assets of DMK MP Gautham Sigamani for illegal investments in Indonesia and Dubai. Karunanidhi family on the ED radar?

    Coal imports scam claims another victim - Gautham Sigamani, considered very close to M K Stalin

    Coal imports scam claims another victim - Gautham Sigamani, considered very close to M K Stalin
    Coal imports scam claims another victim - Gautham Sigamani, considered very close to M K Stalin

    One more DMK (Dravida Munnetra Kazhagam) MP close to the Karunanidhi family is on the radar of the Enforcement Directorate (ED) for illegal overseas investments in Indonesia, Singapore and Dubai. ED has seized assets of DMK’s MP Gautham Sigamani worth more than Rs.8.6 crores for contravention of the Foreign Exchange Management Act (FEMA). Dr Gautham (46) is the son of senior DMK leader Ponmudi, who was a three-time Minister in DMK supremo late Karunanidhi’s cabinet. Ponmudi is sitting MLA of DMK and the party’s district secretary of Villupuram. Gautham Sigamani represents Kallakurichi Constituency in Lok Sabha and is very close to DMK Chief MK Stalin.

    ED is now looking into the Indonesian investments of many DMK leaders. During the DMK regime, controversial imports were from Indonesia. Many investigators believe trusted DMK leaders were managing the huge bribes from coal importers in Indonesia and Dubai on behalf of the party’s controlling family.

    “Immovable properties in the form of agricultural lands, commercial and residential buildings among others in Tamil Nadu and movable properties in the form of bank balances and shares totalling Rs.8.6 crores held by Gautham Sigamani have been seized by the agency under the provisions of Section 37A of FEMA,” the ED said in a statement issued on Friday.

     The relation between Karunanidhi and Salahuddin from mid-60s is well documented in the Sarkaria Commission Report terming Karunanidhi’s operations as “scientific corruption”.

    The attached assets are equivalent to the value of the “illegally acquired foreign security and non-repatriation of foreign exchange earned abroad till date, in contravention of section 4 of the FEMA,” it added.  The probe agency said it took action against the MP after it got information that he has “illegally acquired foreign security without RBI approval by contravening of the provisions of section 4 of the FEMA.”

    The probe found that the MP in March 2008 made an overseas investment of USD 1,00,000 (Rs.41,57,225) in acquiring 2.45 lakh shares of PT Excel Megiddo, Jakarta and USD 55,000 (Rs.22,86,924) in Universal Business Ventures, UAE without RBI approval and hence contravened the provisions of section 4 of FEMA for the acquisition of foreign security. This period of transactions was exactly during the time coal imports took place from Indonesia. The major importer firm was controlled by Karunanidhi’s trusted man Sayyed Salahuddin, who owns a conglomerate in Dubai known as ETA Star Group. The relation between Karunanidhi and Salahuddin from mid-60s is well documented in the Sarkaria Commission Report terming Karunanidhi’s operations as “scientific corruption”.

    “Shri Gautam Sigamani, being a person resident in India, failed to repatriate profits amounting to Rs.7,05,57,237 earned by him from Universal Business Ventures UAE for the financial years 2008-09 to 2012-13 and continued to hold the same abroad till date in contravention of Section 4 read with Section 8 of FEMA,1999,” said ED.

    “He also failed to repatriate the balance amount lying in the bank account of Universal Business Ventures to the tune of Dirhams 6,04,783 that is equivalent to Rs 90,20,410 as on December 2012 and continues to hold the same abroad till date in contravention of section 4 read with section 8 of FEMA, 1999,” the agency said.

    Team PGurus

    6 COMMENTS

    1. ED seizes Rs 8.6 crores worth assets of DMK MP Gautham Sigamani for illegal investments in Indonesia and Dubai. Karunanidhi family on the ED radar?

      Poor DMK MP Gautham Sigamani JanaNayakan not qualified to become the best Parliamentarian of this or that year!! The best Parliamentarian 2018 Kanimozhi might be laughing at him!!

    2. Who is responsible for the state of affairs?
      The base is the citizens. People who have accepted corruption for the moment instead of fighting it.
      ” That’s the world for you” I was told.
      People complain when at the bad receiving end.
      The facts is whosoever pays more money gets the job done in their favor.
      Justice is bought and sold as Mamata Banerjee once famously said.
      The only place you can get real justice is in the Lord’s court.
      God does not visit or reside in temples which abound with the bad vibes of crooks who think they are entitled to forgiveness because they have shared their loot with God. Such crooks have only added to their crimes.
      When crooks build a temple to Ram it is to fool the people into thinking they are honest and have ethics.
      If you are an honest man, the only place you can pray is the pooja room in your house.

    3. How can Tamilnadu develop and progress if they Blindly elect unadulterated pure corrupt, cunning, conning, Cheapo Chors such as Chidambarams, Maran Brothers, Ponmudis, TR Balus, Jagath Rakshakan, Karunanidhi clan? They are all well specialized in organized Looting Mafia dons and what is attached by ED under Money laundering is 0.1% of the total stashed black money. The ED has not even scratched the surface. The rot of concealed wealth is unfathomable deeper than the black hole that can feed India free for decades.

    4. Add:
      The Right to Recall the MLA / MP during the term by its constituents.
      ( So they cannot escape the people who voted them in even if the ED, CBI etc do nothing).

      Funny in a company shareholders can elect or fire a Director .
      In a business one can hire and fire an employee if found useless or guilty of crimes.

      So why should one continue to tolerate misfits who ruin them, their families and society.

    5. The corruption will not end unless and until

      1. LIMITATION LAW to limit the number of terms of an MLA / MP to 2 terms
      2. Members of one family cannot stand in election from the same constituency
      3. Abolish party fund collection system Instead collect ₹ 1/- from 138 crore people per month and distribute to parties as per a formula
      4. Abolish public meetings, Instead have online & TV meetings and public debates between the candidates standing in an election be made mandatory
      5. Entrance exam to be made mandatory to ensure educated individuals entering the legislative houses
      6. Limit the membership of political parties to 10 lakhs for National parties & 2 lakhs for regional parties.

      ULTIMATELY the CONSTITUTION IS CLEAR & CATEGORICAL

      FOR THE PEOPLE, BY THE PEOPLE AND TO THE PEOPLE. People are not there for politicians, politicians (Representatives) must work for the people

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