Aircel-Maxis case: ED attaches Karti Chidambaram’s assets worth Rs 1.16 crore

An ED statement said the agency attached “FD & balance in saving bank account worth Rs 1.16 crore of Karti P Chidambaram & Advantage Strategic in Aircel Maxis case”. (Express Photo: Renuka Puri)

The Enforcement Directorate (ED) on Monday attached Karti Chidambaram’s assets worth Rs 1.16 crore in connection with its probe into the Aircel-Maxis case. The assets provisionally attached by the agency were in the form of fixed deposits and savings account deposits.

An ED statement said the agency attached “FD & balance in saving bank account worth Rs 1.16 crore of Karti P Chidambaram & Advantage Strategic in Aircel Maxis case”.

ED sources said that of the total assets attached, assets worth Rs 90 lakh belonged to Karti, while the remaining assets worth Rs 26 lakh belonged to Advantage Strategic Consulting, which both ED and CBI have maintained is controlled by Karti. They said while Advantage Strategic allegedly received Rs 26 lakh from Aircel, it received Rs 90 lakh from three subsidiaries of Maxis after FIPB approval was given to the Aircel Maxis deal.

Reacting to the development, Karti’s father and former finance minister P Chidambaram said: “The allegations in the press note are a crazy mixture of falsehoods and conjectures. The press note is intended to intimidate me and to silence my voice. I will not be intimidated”.

While the ED announced the attachment of assets on Twitter, it did not issue any official press note.

Chidambaram said suitable action would be taken in accordance with law, when the attachment order is served. He also accused the central probe agency of “cleverly skirting the issue of jurisdiction of the ED when the only chargesheet filed in the case has been quashed by the Special Judge.”

It was on this ground that Karti had also refused to appear before the CBI earlier. The CBI, however, argued that the FIR in connection with the case still stands and investigations are still on, and so it has every right to call Karti for questioning.

ED sources said the attachment of assets was necessary as Karti was allegedly disposing of his properties. They said he had recently disposed of a property in Gurgaon.

On Friday, the CBI told Supreme Court that Karti, who is facing charges of alleged corruption in connection with FIPB approval for FDI inflow in INX media, had gone abroad and closed many bank accounts before the agency issued a lookout circular against him.

“We issued a notice and asked him how many bank accounts he has. He said only one,” Additional Solicitor General Tushar Mehta told a three-judge bench headed by Chief Justice of India Dipak Misra. “But what we found is that there are several accounts which he went abroad and closed — several accounts also where Great Britain pounds are transferred by him,” he said. Mehta submitted that he wants the court to see the details, which were in a sealed cover.

The ED had earlier said that it is probing P Chidambaram’s role “in respect of FIPB approval given to Aircel-Maxis by the then Finance Minister wherein foreign inflow was Rs 3500 crore (appx) whereas as per government policy and FIPB guidelines competent authority was CCEA (Cabinet Committee of Economic Affairs) for any inflow above Rs 600 crore.”

The agency said its probe revealed that the case of the said FDI was “wrongly projected as an investment of Rs 180 crore so that it need not be sent to the CCEA to avoid a detailed scrutiny.” It added that a payment of Rs 26 lakh was made by Aircel Televentures Limited to ASCPL, the firm allegedly linked to Karti, within a few days of the FIPB approval.