Assets worth ₹ 11.04 crore of Congress MP Karti Chidambaram and others were seized via way of means of the Enforcement Directorate for alleged cash laundering withinside the INX Media case. The seized property encompass a belongings in Karnataka`s Coorg district, the ED stated in a statement. Mr Chidambaram, the son of Congress chief P Chidambaram, is an MP from Tamil Nadu’s Sivaganga.
The INX Media case is connected to alleged cash laundering in permitting overseas funding withinside the media organization whilst P Chidambaram become Finance Minister withinside the United Progressive Alliance (UPA) government. Investigators have alleged the Chidambarams obtained kickbacks for granting the overseas funding permission.
“During investigation, it become discovered that unlawful gratification (proceeds of crime) become obtained immediately and circuitously from INX Media Pvt Ltd, to which accused P Chidambaram granted FIPB (Foreign Investment Promotion Board) approval thru shell businesses controlled/beneficially owned/utilized by some other accused, Karti Chidambaram,” the ED stated withinside the statement.
Karti Chidambaram has stated the BJP-led centre has been pursuing a politically influenced vendetta towards his family. P Chidambaram become arrested via way of means of the Central Bureau of Investigation (CBI) withinside the INX Media case in August 2019. In October the identical year, the ED arrested him in a associated cash laundering case. He were given bail in each instances later.
The CBI had filed its case in May 2017, alleging irregularities withinside the FIPB clearance granted to INX Media institution for receiving foreign places finances of ₹ 305 crore in 2007. Subsequently, the ED filed the cash laundering case.
