ED attaches Karti’s properties worth ~54 cr in INX case

The Enforcement Directorate (ED) Thursday said it has attached properties worth ~54 crore allegedly belonging to Karti Chidambaram and his firm Advantage Strategic Consulting Private Limited (ASCPL) in connection with its money laundering probe into INX Media case.

The assets include a cottage and house in Somerset, UK, worth ~8.67 crore in the name of ASCPL, a tennis club worth over ~14.57 crore in Barcelona (in the name of Advantatge Estrategia Esportiva S.L.U), 50% share in a house in Delhi’s Jor Bagh worth ~16 crore, agricultural land worth ~50 lakh in Kodaikanal, two bunglows worth ~4.25 crore in Ooty and fixed deposits of ~90 lakh in name of ASCPL with DCB Bank, Chennai, the ED stated.

“A bizarre and outlandish provisional attachment order which is not based on law of facts but on crazy conjectures. This is meant only to grab headlines,” tweeted Karti. A statement by Karti’s advocate said: “It (order) is subject of confirmation by the Adjudicating Authority and a further appeal to the Appellate Authority. The attachment order will be contested by my client...” He said the order is ex-parte and based on the alleged transactions of firms of which his client is neither a shareholder nor a director.

The ED claims INX’s Peter and Indrani Mukherjea met former finance minister P Chidambaram seeking approval from Foreign Investment Promotion Board to bring funds from outside for their firm. It was approved in alleged violation of Foreign Investment Promotion Board norms.