Aircel-Maxis case: ED attaches Karti Chidambaram's assets worth Rs 1.16 crore

Cornelia Mascio
Settembre 25, 2017

The Enforcement Directorate on Monday attached the assets and bank accounts of former Finance Minister P Chidambaram's son Karti Chidambaram in connection with the Aircel-Maxis case, ANI reported.

The ED is probing Karti for receiving alleged kickbacks in getting FIPB clearance in the Aircel Maxis deal when his father was the union finance minister.

The assets in question are in the form of bank accounts and Rs.90 lakh in fixed deposits.

According to a ED sleuth the firm ASCPL is linked to Karti and the firm is controlled by him.

According to India Today, Karti reportedly tried to close his bank accounts and sell off his properties.

According to the ED, the investigation into Aricel Maxis case showed that a company promoted by Karti and A Palaniappan - a nephew of P Chidambaram - received Dollars 2 lakh from Maxis Group in the guise of software consultancy.

The move comes after CBI issued a lookout notice against former finance minister P Chidambaram's son in the case.

He had also said that the CBI has recorded statements from every official who dealt with the case.

The agency, in its investigation, also claims to have discovered that the amount for FIPB approval was incorrectly projected to hide the facts.

As per protocol, any foreign investment proposal over Rs 600 crore has to be cleared by the cabinet committee on economic affairs (CCEA), but in this case Chidambaram approved it himself although the amount was around Rs 800 crore.

Chidambaram also added that 'suitable action in accordance with the law shall be taken once the order is served'.

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