Did Former Finance Minister P Chidambaram’s son Karti linked firm Advantage Strategic Consulting invest in Hotel Mozart in Croatia? The Income Tax (IT) department’s Chennai Unit’s report suggests that this matter needs to be investigated further.
Hotel Mozart is a famous hotel in Croatia and the hotel building has historical importance. This building was the Headquarters of the Yugoslavian Army during Second World War.
The IT and Enforcement Directorate (ED) officials’ joint raid found an investment proposal of Five Million Euros from a computer in Karti’s company. “As per the proposal unearthed from the computing device, Advantage Strategic Consulting Singapore Pte Ltd has proposed to invest Euro 5 Million in Hotel Mozart at Opatijia in Croatia. The details of investment need to be ascertained,” said the Income Tax Report.
The report also says one Bhaskararaman of Karti’s companies who deposed before Income Tax officials said that they have not made any investments. But Income Tax officials do not believe Bhaskararaman and noted that this fact needs to be ascertained by conducting a full probe. “Otherwise how come the specific investment proposal from their computers,” said a senior Income Tax official.
Hotel Mozart is a famous hotel in Croatia and the hotel building has historical importance. This building was the Headquarters of the Yugoslavian Army during Second World War. In 1994 the hotel was bought by Veljko Barbieri and the following year opened after being completely renovated with a new name, Mozart. Another major shareholder of this hotel is Ivan Ljubicic, one of the best Croatian Tennis players of all time and son in law of the latest owner of the Hotel, Abi Shalabi.
Meanwhile Karti’s Advantage has a subsidiary company in Spain, which owns a big Tennis Academy. Even though Karti’s staffers tried to fool IT officials, they believe that they got clinching evidence of his investment in Hotel Mozart.
The clinching evidence Income Tax got is that Karti’s company Advantage entered into an agreement with a company in Monaco called Sporting Advantage Monaco SARL. In this Monaco based company, the Hotel Mozart owner and Tennis player Ivan Ljubicic has 40000 shares and Karti’s another London based company Totus Tennis Ltd. has 9500 shares. In this agreement, Totus Tennis is represented by Karti Chidambaram. Why would there be an agreement unless there was a follow up investment? The numbers certainly seem to add up.
The big question is why despite clinching evidence, IT officials are not allowed to interrogate the corrupt Chidambaram family.
So Income Tax sleuths believe, Karti’s controversial company Advantage has invested Five Million Euro worth shares in Hotel Mozart and is getting huge revenues for the past seven years from this iconic hotel in Croatia’s tourist spot of Opatijia.
The facts can be ascertained perhaps by doing a custodial interrogation. The big question is why despite clinching evidence, IT officials are not allowed to interrogate the corrupt Chidambaram family.
Now after BJP leader Subramanian Swamy’s complaint Prime Minister Narendra Modi has directed the Central Board of Direct Taxes (CBDT) to probe into Chidambaram family’s illegal assets. How long will it take for CBDT to act?