ED raids Karti Chidambaram’s premises in Delhi, Chennai
Team Udayavani, Jan 13, 2018, 11:34 AM IST
New Delhi: The Enforcement Directorate (ED) today conducted searches at multiple premises linked to Karti Chidambaram, the son of Congress leader P Chidambaram, in connection with its money laundering probe in the Aircel- Maxis case.
Official sources said the raids are being conducted in Delhi and Chennai since early morning.
The central probe agency, on December 1 last year, had conducted similar searches on the premises of a relative of Karti and others in this case.
The ED case pertains to the Foreign Investment Promotion Board (FIPB) approval granted in 2006 by the then finance minister P Chidambaram.
The agency had said it is investigating the circumstances of the said FIPB approval granted by the then finance minister (P Chidambaram)”.
The ED also alleged that Karti has “disposed” of a property in Gurgaon, which he had allegedly rented out to a multinational company “to whom foreign direct investment (FDI) approval had been granted in 2013”.
It charged that Karti had “also closed certain bank accounts and attempted to close other bank accounts in order to frustrate the process of attachment” under the PMLA.
The agency said FIPB approval in the Aircel-Maxis FDI case was granted in March, 2006 by the then FM even though he was competent to accord approval on project proposals only up to Rs 600 crore and beyond that it required the approval of the Cabinet Committee on Economic Affairs (CCEA).
“In the instant case, the approval for FDI of 800 million USD (over Rs 3,500 crore) was sought. Hence, CCEA was competent to grant approval.
“However, approval was not obtained from CCEA,” it alleged.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Cow smuggler dead, six others injured after their vehicle overturns during police chase
Assam bypolls: Samaguri Cong candidate alleges rigging by BJP, demands repolling
Who in Congress has said Article 370 will be restored? Shah spreading lies: Kharge
All arrangements in place to ensure smooth darshan at Sabarimala shrine: Kerala police
Delhi pollution: Mothers’ group write to health minister, highlight respiratory issues among kids
MUST WATCH
Latest Additions
Cow smuggler dead, six others injured after their vehicle overturns during police chase
Assam bypolls: Samaguri Cong candidate alleges rigging by BJP, demands repolling
Who in Congress has said Article 370 will be restored? Shah spreading lies: Kharge
All arrangements in place to ensure smooth darshan at Sabarimala shrine: Kerala police
Delhi pollution: Mothers’ group write to health minister, highlight respiratory issues among kids
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.