After a week-long silence over The Pioneer’s expose on his son’s massive assets in 14 countries unearthed by ED-IT raids, former Union Finance Minister P Chidambaram on Sunday said Karti is being targeted only because “he is my son” and “the real target is me”.
Chidambaram also said that if the Government is of the view that Karti has undisclosed assets he would ask it to make a list in this regard and his son will voluntarily execute any document necessary to transfer such assets to it for a nominal consideration of Rupee 1.
“A few days ago, a news report was published containing wild and reckless allegations against my son, Karti Chidambaram, and by implication against me. It was obvious to everyone that it was a planted story.
“If the Government is of the view that Mr Karti Chidambaram has undisclosed assets, I would ask the Government to make a list of such alleged undisclosed assets. Karti Chidambaram will voluntarily execute any document necessary to transfer those assets (allegedly undisclosed) to the Government for a nominal consideration of Rupee 1. let the Government become the owner of the alleged undisclosed assets,” said Chidambaram in a statement.
The Pioneer had, on February 29, reported about the ED-IT findings about Karti-controlled company Advantage Strategic ltd’s massive assets and financial transactions in 14 countries. The ED and IT raids in connection with the Aircel-Maxis scam had unearthed that the firm had properties and investments in london, Dubai, South Africa, Philippines, Thailand, Singapore, Malaysia, Sri lanka, British Virgin Island, France, USA, Switzerland, Greece and Spain.
The properties include an 88-acre farm house in the UK, three vineyards and one stud farm in South Africa, three resorts in Sri lanka and a four-acre tennis academy with 11 tennis courts in Spain.
“I am issuing this statement on behalf of all the membeRs of my family. We know that Karti is being targeted only because he is my son and the real target is me. I understand the political motive behind the accusations and the timing of the story. I have nothing but pity for those who make these false accusations. Ultimately, truth will prevail,” said Chidambaram.
He said Karti runs a legitimate business, apart from managing inherited property and has been an income tax assessee for many years. Chidambaram also said that Karti has duly and regularly filed his income tax returns, including a statement of assets and liabilities, every year and that the assessments have been completed upto Assessment Year 2013-14 by the Income-Tax department.
“All his (Karti) assets and liabilities have been duly disclosed in his tax returns. He has no undisclosed asset anywhere. He and his business are fully compliant with the laws and regulations of the Income-Tax department and of all other regulatory authorities concerned. The allegation that he has undisclosed assets is preposterous, malicious and totally false,” Chidambaram said.