Description
Assets of Karti Chidambaram and others seized by ED The law enforcement branch seized assets worth Rs 11.04 crore from Congress MP Karti Chidambaram and others for alleged money laundering in the INX Media case. The seized assets include a property in Karnataka's Coorg district, ED said in a statement.
Mr. Chidambaram, son of Congress leader P Chidambaram, is an MP for Sivaganga of Tamil Nadu.
The INX Media case is linked to allegations of money laundering by allowing foreign investment in the media company when P Chidambaram was finance minister in the United Progressive Alliance (UPA) government.
Investigators alleged that the Chidambaram received bribes for granting foreign investment authorization.
“During the investigation, it was revealed that illegal tips (proceeds of crime) had been received directly and indirectly from INX Media Pvt Ltd, to which the defendant P Chidambaram had granted FIPB (Foreign Investment Promotion Board) through shell companies controlled/owned/operated by another defendant, Karti Chidambaram," the ED said in the statement.
Karti Chidambaram said the BJP-run center was seeking a politically motivated vendetta against her family.
P Chidambaram was arrested by the Central Bureau of Investigations (CBI) in the INX Media case in August 2019. In October of the same year, the ED arrested him in a related money laundering case. He was released on bail in both cases later.
The CBI had filed its case in May 2017, alleging irregularities in the FIPB authorization granted to INX Media Group for receiving foreign funds of Rs 305 crore in 2007.
The ED subsequently filed the money laundering file.
