ED Attaches Rs 11.04 Cr Worth Properties of Karti Chidambaram in INX Media Case

New Delhi: The Enforcement Directorate (ED) attached four properties belonging to Karti Chidambaram in connection with the INX Media money laundering case. Total worth of these four properties is around Rs 11.04 crore.

The ED informed in a press release on Tuesday that a total of four properties, three movable and one immovable property located in Karnataka’s Coorg district, have been attached under the provisions of the Prevention of Money Laundering Act, 2002.

During the investigation conducted by ED, it is revealed that illegal gratification (proceeds of crime) was received directly and indirectly from M/s INX Media Pvt. Ltd., to which accused P Chidambaram had granted FIPB approval, through several shell companies controlled/beneficially owned/used by another accused Karti Chidambaram, the agency stated.

Illegal gratification was received in the company of the accused in the name of providing consultancy by entities from INX Media.

“The total proceeds of crime laundered over a period of time is Rs 65.88 Crore. The money was routed to overseas accounts and investment was made in various overseas properties and shares of companies through various shell companies directly or indirectly controlled by Karti Chidambaram and through his confidants,” the agency stated.