ED attaches Karti’s Rs 54 cr assets in India, abroad

Source: The Hitavada      Date: 12 Oct 2018 08:51:26



THE Enforcement Directorate (ED) on Thursday said it has attached assets worth Rs 54 crore of Karti Chidambaram, son of former Finance Minister P Chidambaram, in India, UK and Spain in connection with the INX Media money laundering case, an action termed “bizarre and outlandish” by him.

The Central probe agency issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attachment of agricultural land and bungalow in Kodaikanal and Ooty in Tamil Nadu and a Rs 16 crore flat in south Delhi’s Jorbagh which is in the name of Karti and his mother Nalini.

Karti, the ED said, has a 50 per cent share in this property.
In the United Kingdom, the ED attached a Rs 8.67 crore cottage and house in Somerset (in the name of ASCPL) and a tennis club valued at over Rs 14.57 crore located in Barcelona, Spain have also been attached as part of the same order, the agency said.

Karti, through his official twitter handle, reacted to the order and said: “A bizarre and outlandish provisional attachment order which is not based on law of facts but on crazy conjectures. This is meant only to grab headlines”.

The “order will not withstand judicial scrutiny, review, appeal. Will approach the appropriate legal forum,” he said. Fixed Deposits worth Rs 90 lakh, kept in a bank in Chennai, in the name of Advantage Strategic Consulting Private Limited (ASCPL) have also been attached, the Central probe agency said.