The Enforcement Directorate (ED) on Thursday attached assets worth Rs 54 crore of Karti Chidambaram and his company Advantage Strategic Consulting Pvt Ltd. (ASCPL) in INX Media money laundering case. The attached assets include immovable properties in India, UK and Spain besides deposits in banks.
The ED probe has revealed that then INX promoters Peter and Indrani Mukerjea met then Finance Minister P Chidambaram to expedite their application for FIPB approval. “The ED identified payments of Rs 3.09 crore by Peter Mukerjea to ASCPL and associated entities controlled by Karti through manipulated debit notes. During investigation, it was admitted that debit notes were raised on the directions of Karti to show some transaction which in fact did not occur,” the ED said in a statement.
The money received by the associated entities was channeled back into ASCPL. The funds received by ASCPL were invested and ASCPL also purchased shares of Vasan Health Care. A part of these shares were sold at a profit of nearly Rs 41 crore. The ASCPL also earned Rs 18.49 crore from sale of shares in another company for an amount of Rs 29.49 crore. These funds arising from sale of laundered property are also assets involved in money laundering, the probe agency said.
“…assets and properties belonging to Karti and ASCPL were attached as proceeds of crime. The attached assets include, agricultural land in Kodaikanal, Bunglows in Ooty of ASCPL, fixed deposits of Rs 90 lakh in the name of ASCPL with DCB Bank, Nungambakkam Branch, Share of Karti in Jor Bagh House and Rs 9,23,46,407 in the name of Karti with Indian Overseas Bank, Nungambakkam Branch have also been attached,” the ED sad.
The overseas assets attached include i.e Surridge farm, Bathealton, Somerset UK held in the name of ASCPL Singapore and Tennis Club and Land located in Municipality of Gava province of Barcelona Spain in the name of Advantatge Estrategia Esportiva SLU.
Efforts are on to trace other proceeds of crime and laundered assets, the agency added.
List of immovable assets attached:
Sl. No. Description of the property Location Value Registered in Name of
1. Agricultural Land Kodaikanal Rs.25 lacs ASCPL
2. Bunglow Ooty Rs.3.75 Crore ASCPL
3 Bunglow at Kothagiri, Ooty Distt. Tamil NaduKothagiri, Ooty Rs 50 lakh ASCPL
4 Land and property Jorbagh, New Delhi Rs. 16 crore (50% share of Karti) Karti and Nalini Chidambaram
5 House, cottage, stone barn and land Surridge farm, Bathealton, Somerset, TA4 2AS, UK Rs 8,67,81,250 Advantage Strategic Consulting Pte. Ltd., Singapore.
6 Tennis Club and Land located in Municipality of Gava province of Barcelona Camino Del Riuet, Gava, Barcelona, Spain Rs.14,57,62,385 Advantatge Estrategia Esportiva S.L.U