Dozens of MNCs engaged services of Karti firms after PC made FM: Officials

NEW DELHI: Karti Chidambaram was a busy man, if the Enforcement Directorate is to be believed. Officials in ED claimed to have found instances of dozens of multi-national companies hiring the services of Karti Chidambaram-controlled Chess Management Services Pvt Ltd (CMSPL) and Advantage Strategic Consulting Pvt Ltd (ASCPL).
In all the cases, the big business firms engaged Karti’s services after his father P Chidambaram assumed the office of finance minister in the UPA government in May 2004, ED sources claimed.

Karti’s clients included Diageo of the UK, which later took over Vijay Mallya’s UB group, and Aditya Birla group, besides INX Media and Aircel-Maxis, whose controversial dealings with the Chennai-based management consultant have been investigated by the ED and the CBI.

ED officials have been examining bank details and financial transactions of some of these companies with Karti’s ASCPL and CMSPL. Interestingly, many of these companies engaged Karti for guidance on how to sell their products, according to a senior officer.

Chidambaram, as finance minister in the UPA government, signed on FIPB clearances up to a certain limit. One of CBI’s allegations against Karti is that he influenced his father’s decisions and received funds in his companies as quid pro quo from some of the beneficiaries.