Economy

Aircel-Maxis case: Enforcement Directorate attaches Karti Chidambaram's assets, bank accounts

Aircel-Maxis case: Enforcement Directorate attaches Karti Chidambaram's assets, bank accounts”

Sleuths of Enforcement Directorate (ED) attached assets worth Rs 1.16 crore of former finance minister P Chidambaram son's Karti Chidambaram and a firm allegedly linked to him in connection with money laundering probe in Aircel-Maxis deal on Monday.

It has been learnt that Karti's fixed deposits worth Rs. 90 lakh have also been attached, the report says.

ED also found that a company promoted by Karti and P Chidambaram's nephew A Palaniappan allegedly received $2 lakh from the Maxis Group in the guise of software consultancy, reported ANI.

The ED also alleged that Karti had "disposed" off a property in Gurgaon and had "closed certain bank accounts and attempted to close other bank accounts in order to frustrate the process of attachment" under the PMLA.

During investigation, the Enforcement Directorate found that Foreign Investment Promotion Board (FIPB) approval given by P. Chidambaram in Aircel-Maxis case was beyond his mandate. "It cleverly skirts the issue of jurisdiction of the ED when the only charge sheet filed in the case (Aircel-Maxis) has been quashed by the Special Judge", he said.

"However, the approval was granted by the then Finance Minister (P Chidambaram). In Aircel-Maxis, FIPB officials have recorded statements before CBI that approval given was valid".

The agency, in its investigation, also claims to have discovered that the amount for FIPB approval was incorrectly projected to hide the facts. "I will not be intimidated", Chidambaram said, adding that suitable action in accordance with law will be taken as and when the attachment order is served.



Like this

loading...
loading...

Latest


25 September 2017
Priyanka Chopra and Alia Bhatt — Weekly Instagram recap
The 21-year-old singer was joined by fellow performers The Chainsmokers , Stevie Wonder , Andra Day , Big Sean , and Green Day . She wore a pair of round sunglasses for the event at the Central Park in NY , reports dailymail.co.uk.

25 September 2017
Agree Realty Corporation (NYSE:ADC) Experiences Lighter than Average Trading Volume
Zacks Investment Research has downgraded Agree Realty Corporation (NYSE:ADC) to Sell in a statement released on 06/16/2017. The stock of Agree Realty Corporation (NYSE:ADC) has "Outperform" rating given on Wednesday, October 12 by FBR Capital.

25 September 2017
Video of Iran's Successfull Test of New Long-Range Ballistic Missile
It included video from an on-board camera which it said showed the detachment of the cone that carries multiple warheads. Washington has on several occasions slapped new sanctions against Iran over its missile programme.

25 September 2017
Pd, Renzi: ''Nostro leader non dinastico, ma democratico. Da noi votano milioni''
Dobbiamo uscire dalla modalità litigio , uscire dalle discussioni interne mentre c'è la possibilità di cambiare il paese. E allora quel che abbiamo fatto il Pd deve costruire una proposta credibile per fermare i populisti in Italia.

25 September 2017
Senate probe into the death of Atio Castillo
Solano was accompanied by UST law dean Nilo Divina, tagged a founding member of the Aegis Juris. "The same frat member called me. Castillo 'yung lawyer ni John Paul Solano kasi they have to attend to other matters", said Coronel.

25 September 2017
Brexit, May: "Serve un accordo creativo". Proposto un biennio di transizione
E lo furono gli ufficiali in giubba rossa di ritorno dall'India e poco attratti dall'idea di tornare nelle nebbie londinesi. BRUXELLES - Per il primo ministro è dovere di Londra e Bruxelles trovare un accordo e lei si sente in proposito ottimista .

25 September 2017
A Concert for Charlottesville
Dave Matthews has united with performers Ariana Grande, Pharrell Williams, Justin Timberlake and more, to produce A Concert For Charlottesville, in response to racially-motivated violence that gripped the college town in Virginia last month.

25 September 2017
Reduces Position in Simon Property Group, Inc. (SPG)
On June 20 the company was rated "Buy" according to a Goldman Sachs report which is up from the previous "Conviction Buy" rating. Pennsylvania-based Commonwealth Of Pennsylvania Pub School Empls Retrmt has invested 0.02% in Teleflex Incorporated (NYSE:TFX).

25 September 2017
John McCain: Brain cancer prognosis very poor
There's always that.' You know, and - and I said, 'I can take it. "And then I think, cancer chose the wrong guy". Lab tests confirmed the diagnosis days later. "They said that the prognosis is very, very serious".

25 September 2017
Philippines accepts Malaysia's rejection of ASEAN statement
Aman disputes that the Chairman's statement, having disregarded its inputs, "was not based on consensus". The ministry said there were "extensive consultations" with Malaysia.