ED files PMLA case against Chidambaram's son Karti

Karti Chidamabaram facing CBI probe leaves for London father says he will return soon

"We have registered a case against Karti Chidambaram under charges of Prevention of Money Laundering Act (PMLA)", an ED official said. "The company generated more than Rs 305 crore of Foreign Direct Investment in INX Media against the approved inflow of Rs 4.62 crore by issuing shares to foreign investors at a premium of more than Rs 800 per share", the FIR stated.

Karti Chidambaram, who was raided couple of days back along with his associates for an alleged bribery and corruption case, has left for London on Thurdsay which was described as a scheduled trip by his father P Chidambaram.

Chennai: Karti Chidambaram, former Union Minister P Chidambaram's son, has left for the United Kingdom barely two days after his home was raided by the CBI sleuths.

The case has been registered on the basis of a CBI FIR that alleges that Karticontrolled companies received at least Rs 3.5 crore from INX Media for influencing an FIPB clearance by the finance ministry, then headed by his father.

"The ED will soon call all accused, including Karti, for questioning", sources said.

Karti has asserted that all the charges on him are completely bogus and he will stand vindicated.

Earlier this week, the Central Bureau of Investigation (CBI) registered a case against the former finance minister's son and searched various places linked to the case including Karti and P Chidambaram's house in Chennai.

The CBI had filed an FIR against Karti Chidambaram and the Mukerjeas on charges of criminal conspiracy, cheating, receiving illegal gratification, influencing public servants and criminal misconduct. These vouchers were issued in favour of Advantage Strategic Consulting (P) Limited, a firm indirectly owned by Karti. FIPB approval was granted in "hundreds of cases", the senior Congress leader had said.

The ED will probe the allegation that Karti received money in lieu of the "services" rendered to INX Media by his company Chess Management Services, through another company, Advantage Strategic Consulting Pvt.



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