Tuesday, April 24, 2018
facebook

google plus
Nation

Posted at: Jan 13, 2018, 10:29 AM; last updated: Jan 13, 2018, 6:09 PM (IST)

ED raids Karti Chidambaram’s premises in Delhi, Chennai

ED raids Karti Chidambaram’s premises in Delhi, Chennai
Official sources said the raids are being conducted in Delhi and Chennai since early morning. PTI

New Delhi, January 13

The Enforcement Directorate (ED) on Saturday 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.

(Follow The Tribune on Facebook; and Twitter @thetribunechd)

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 had “disposed” of a property in Gurugram, 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. PTI

COMMENTS

All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On