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Enforcement Directorate seizes the properties of Karti Chidambaram

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The Enforcement Directorate seized the properties of Karti Chidambaram of worth Rs 54 crore in connection with the INX Media money laundering case. The agency seized the properties present in India, the UK and Spain.

Karti Chidambaram, son of former Union finance minister P Chidambaram called the action completely “bizarre and outlandish”.

Karti, politician and businessman has been accused of receiving payments to clear foreign investment into INX Media group in the name of his father who was then a cabinet minister.

The agency lodged a case under PMLA in the deal case when CBI filed the first information report against him.

The case registered claimed that irregularities took place in the Foreign Investment Promotion Board clearance to INX Media for receiving overseas funds to the number of Rs 305 crore in 2007.

The former minister’s son has also been accused of laundering the bribe money.

The central probe agency released a provisional order under the Prevention of Money Laundering Act, 2002 (PMLA) to seize the assets of Mr Karti present in Kodaikanal and Ooty in Tamil Nadu and a flat in New Delhi’s Jorbagh in India whereas a cottage and house in Somerset in the United Kingdom and a tennis club located in Barcelona, Spain were also attached under the same provision.

The agency also confiscated fixed deposits worth Rs 90 lakh in a bank in Chennai and assets which were in name of Karti and ASCPL.

Karti Chidambaram tweeted and called the order “is not based on law or facts but on crazy conjectures”.

He said “This is meant only to grab “headlines”. The “order” will not withstand judicial scrutiny, review or appeal. Will approach the appropriate legal forum,” in his tweeter handle.

Earlier, ED had already questioned Mr Karti Chidambaram in connection with the money laundering case.

The CBI had accused the son of the former minister in bribe case but he has been observed in other corruption cases too.

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