ED explores leads on PC ‘getting ₹300cr in bribes’
TIMES NEWS NETWORK
New Delhi:22.08.2019
Widening its probe against senior Congress leader P Chidambaram in the INX Media money laundering case, the Enforcement Directorate is now working on “leads” allegedly suggesting that the former finance minister received ₹300 crore in bribes for Foreign Investment Promotion Board (FIPB) approvals to different companies.
According to sources, the new line of investigation by ED as well as CBI will cover the FIPB approvals granted to Diageo Scotland Ltd, Katara Holdings, Essar Steel Ltd and Elforge Ltd.
As in the case of Aircel Maxis and INX Media, the bribe money was allegedly put in a shell company operated by Chidambaram’s son, Karti, who was recently elected to Lok Sabha. Put together, Chidmabarams allegedly collected ₹300 crore in bribes from companies including Aircel Maxis and INX Media.
“This is a political witchhunt and media leaks. I have nothing to do with INX or the FIPB. All my assets and liabilities are duly declared in statutory and regulatory filings,” said Karti Chidambaram in his reaction on Twitter.
However, sources in the probe agencies maintained that Karti had launched several shell companies both in India and abroad in which the kickbacks were received. The proceeds were deposited in nearly two dozen accounts in foreign banks.
The agency claimed that the deposits in the shell companies were used for meeting personal expenditure of Chidambarams and for purchasing several properties in Malaysia, UK and Spain.
The ED sources also alleged that Chidambarams owned the shell company in India which received ₹300 crore from another shell company registered in British Virgin Islands (BVI). The two directors of the shell company, a school teacher and her husband, have already been questioned by the agency. The couple were asked to make a will where they transferred all their shares to the daughter of Karti who also served as the executor of the will.
The agency has claimed that since Chidambaram did not cooperate with the investigation, withholding information which the agency eventually managed to source from foreign countries by issuing Letters Rogatories.
HIGH DRAMA: PC
TIMES NEWS NETWORK
New Delhi:22.08.2019
Widening its probe against senior Congress leader P Chidambaram in the INX Media money laundering case, the Enforcement Directorate is now working on “leads” allegedly suggesting that the former finance minister received ₹300 crore in bribes for Foreign Investment Promotion Board (FIPB) approvals to different companies.
According to sources, the new line of investigation by ED as well as CBI will cover the FIPB approvals granted to Diageo Scotland Ltd, Katara Holdings, Essar Steel Ltd and Elforge Ltd.
As in the case of Aircel Maxis and INX Media, the bribe money was allegedly put in a shell company operated by Chidambaram’s son, Karti, who was recently elected to Lok Sabha. Put together, Chidmabarams allegedly collected ₹300 crore in bribes from companies including Aircel Maxis and INX Media.
“This is a political witchhunt and media leaks. I have nothing to do with INX or the FIPB. All my assets and liabilities are duly declared in statutory and regulatory filings,” said Karti Chidambaram in his reaction on Twitter.
However, sources in the probe agencies maintained that Karti had launched several shell companies both in India and abroad in which the kickbacks were received. The proceeds were deposited in nearly two dozen accounts in foreign banks.
The agency claimed that the deposits in the shell companies were used for meeting personal expenditure of Chidambarams and for purchasing several properties in Malaysia, UK and Spain.
The ED sources also alleged that Chidambarams owned the shell company in India which received ₹300 crore from another shell company registered in British Virgin Islands (BVI). The two directors of the shell company, a school teacher and her husband, have already been questioned by the agency. The couple were asked to make a will where they transferred all their shares to the daughter of Karti who also served as the executor of the will.
The agency has claimed that since Chidambaram did not cooperate with the investigation, withholding information which the agency eventually managed to source from foreign countries by issuing Letters Rogatories.
HIGH DRAMA: PC
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