RNS: The Enforcement Directorate (ED) has attached properties of Congress MP Karti Chidambaram, son of former Union minister and senior Congress leader P Chidambaram, estimated worth Rs 11.04 crore, in the INX Media money laundering case.
One of four linked properties is an immovable asset in Coorg, Karnataka. “The ED issued a provisional order under the Prevention of Money Laundering Act (PMLA) to attach assets worth Rs 11.04 crore,” said an ED official.
Both ED and CBI arrested Kriti concerning the INX Media money laundering case. In 2017, the ED initiated a PMLA criminal action against INX Media Group for alleged FIPB approval violations.
The case relates to alleged irregularities in the Foreign Investment Promotion Board clearance to INX Media group for receiving overseas funds during the UPA rule, sources said.
According to the ED official, an investigation by the ED found that another accused, Karti, had received illegal gratification (proceeds of crime) from M/s INX Media Pvt Ltd, to which accused P Chidambaram had granted FIPB approval via several shell companies controlled or beneficially owned or used by Karti.
“Entities from INX Media provided consulting services to the company of the accused in exchange for illegal gratification. Over time, a total of Rs 65.88 crore was laundered from criminal activity. Using shell companies directly or indirectly controlled by Karti Chidambaram and through his confidants, the money was routed to overseas accounts and invested in various overseas properties and shares of companies,” the official said.
