INX Media PMLA case: Enforcement Directorate attaches Karti Chidambaram’s assets worth Rs 54 crore

The Enforcement Directorate (ED) on Thursday attached properties worth Rs 54 crore belonging to former Finance Minister P Chidambaram’s son Karti Chidambaram and a company allegedly associated with him in connection with the INX Media case. The attached properties include Chidambaram’s Jor Bagh residence, a bungalow in the UK and a tennis club in Spain.

The ED has claimed that the properties belong to Karti and “his company Advantage Strategic Consulting Pvt. Ltd. (ASCPL)”. ED is probing a case of money laundering against Karti based on a CBI FIR in the case.

In response to the development, Karti called the order “bizarre and outlandish” and based on “crazy conjectures”. “This is meant only to grab headlines. The order will not withstand judicial scrutiny, review or appeal. Will approach the appropriate legal forum,” Karti tweeted.

In May 2017, the CBI filed an FIR naming, among others, Karti and INX Media for alleged irregularities in clearance from the Foreign Investment Promotion Board (FIPB) to the media group for receiving overseas funds in 2007 when Chidambaram was Union Finance Minister. The CBI alleged that INX Media’s FDI proposal was “deceitful and fallacious” but was still granted approval “by virtue of influence exercised over them (FIPB) by Karti P Chidambaram”.

“Investigation conducted by the Directorate so far shows that for FIPB approval, Sh. Peter and Smt. I...

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