Karti Chidambaram has allegedly accumulated unprecedented and unaccounted wealth. His is an unabashed saga of the failings of Indian polity and governance. His rise and rise, and now may be a fall, and the lust to earn tainted money proves how a father-son nexus, especially if the father (P Chidambaram) was thrice the country’s Finance Minister, can plunder a nation.
Karti Chidambaram has allegedly accumulated unprecedented and unaccounted wealth. His is an unabashed saga of the failings of Indian polity and governance. His rise and rise, and now may be a fall, and the lust to earn tainted money proves how a father-son nexus, especially if the father (P Chidambaram) was thrice the country’s Finance Minister, can plunder a nation. Imagine a nation, where leading businessmen paid $15,000 each, or thereabouts, to the son to fix a meeting with the latter’s father. And then send a “Thank you” email. Imagine a country, where Karti was paid huge amounts to urge his father to okay well-deserved clearances, and slightly dubious ones, from the FIPB for foreign investment inflows. Political leaders in the Congress didn’t dare to act against the father, despite this being common knowledge for years. Instead, Sonia Gandhi and her son, Rahul, nominated him for another Rajya Sabha term in June 2016. In the BJP regime, meanwhile, a senior cabinet minister has the audacity and courage to defy his Prime Minister’s efforts to attack corruption. He is busy with the ‘Save Karti’ operation. Alam Srinivas opens up Karti’s Pandora’s Box of illegal business activities related to INX Media, Aircel-Maxis, Vasan healthcare, and many more. More than 50 questions were sent to Karti but he did not respond.
TWENTY-FIVE years ago, when Palaniappan Chidambaram was the Commerce Minister, he claimed that he was the bigger and better reformer than Manmohan Singh, who was then the Finance Minister and acknowledged as the ‘Father of Reforms’ in the country. PC would immediately refer to the export-import policy and contend that the manner in which he had simplified the rules for international trade were far more critical than what MMS had done in the area of red tape and licence raj. Unfortunately, PC wasn’t there for too long. Immediately after the Harshad Mehta Scam, he had to resign because of wife, Nalini’s investment in Fairgrowth Group, which was embroiled in the Securities Scam. Chidambaram wasn’t deterred. He went on to present what was consensually acknowledged as ‘India’s Dream Budget’ five years later under the United Front regime. Seventeen years later, as the Finance Minister, he took credit for one of the finest periods—a really high-growth one—in post-Independent India. Almost all of us were unaware that PC, and his family, especially his son, Karti, was one of the largest beneficiaries of the reforms. It’s only now that we have got glimpses in the multi-million dollar corporate-cumproperty empire that was built by the son over the past decade or so. It’s only now that we have heard allegations that Karti was a powerful middleman, who got things done in the finance ministry when his father was the FM. He was the alleged recipient of the bribes that the FM Father took to clear mega deals. The noose is getting tighter around Karti’s neck. For a long time, PC claimed that the charges against his
Karti got the Madras High Court to stop the Central Bureau of Investigation from questioning him. The tide, however, changed. CBI was allowed to finally grill PC’s son. On August 28 this year, it questioned him for seven hours