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Congress MP Karti Chidambaram's Properties Worth Rs 11.04 Crore Seized By Enforcement Directorate
Karti Chidambaram
The Enforcement Directorate (ED) has attached properties worth Rs 11.04 crore belonging to Congress MP Karti Chidambaram and others in the INX Media money laundering case.
"ED has attached 4 properties (three movable and one immovable property located at Coorg District, Karnataka) valued at Rs. 11.04 Crore belonging to Karti P Chidambaram and others in the case of INX Media Pvt Ltd and others under the provisions of PMLA, 2002.", said a tweet from the ED's official handle.
Karti, the Lok Sabha MP from Sivaganga, Tamil Nadu, and son of former Union minister P Chidambaram, was arrested by both the ED and Central Bureau of Investigation (CBI) for his involvement in the INX case.
In 2017, the ED initiated an investigation under the Prevention of Money Laundering Act (PMLA) regarding the Foreign Investment Promotion Board (FIPB) approval granted to INX Media Group, due to alleged irregularities.
As per the ED investigation, it has been disclosed that illegal funds were obtained from M/s INX Media Pvt Ltd, which received FIPB's approval from P Chidambaram. These funds were received through many shell companies that were controlled, beneficially owned, or used by his son, Karti Chidambaram.
The total amount laundered over time amounts to Rs 65.88 crore, said an ED spokesperson.
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