Karti’s assets worth ₹1.16 cr attached by ED

The Enforcement Directorate has attached Karti Chidambaram’s assets worth Rs 1.16 crore in banks in connection with alleged money laundering in the Aircel-Maxis case.

The move comes after CBI issued a lookout notice against former finance minister P Chidambaram’s son in the case. The agency had earlier alleged that Karti was trying to close his bank accounts fearing action from agencies.

“Enforcement Directorate has attached movable assets held by ASCPL (Advantage Strategic Consulting Private Limited) in the form of fixed deposits to the tune of ₹26 lakh and movable assets held by Karti P Chidambaram in the form of fixed deposits and balance in saving bank account to the tune of Rs 90 lakh approximately,” the central probe agency said.

The firm ASCPL is allegedly linked to Karti and the ED said it was “controlled” by him through another person, identified as S Bhaskararaman, whom Karti had described to the agency as his chartered accountant and Chief Financial Officer (CFO), the agency said.

The CBI had summoned Karti for questioning on Thursday but he didn’t appear before the agency saying a special court has discharged all accused in the case and also ‘terminated’ proceedings in the matter. The agency has challenged the discharge order in the high court.

The Aircel-Maxis case pertains to alleged irregularities in the approval given to Malaysiabased Maxis to invest in Indian

NEW DELHI:

telecom company Aircel by the then finance minister P Chidambaram.

As per protocol, any foreign investment proposal over ₹600 crore has to be cleared by the cabinet committee on economic affairs (CCEA), but in this case Chidambaram approved it himself although the amount was around ₹800 crore.