New Delhi: The Enforcement Directorate (ED) has served an eviction notice, “directing” former Union minister P. Chidambaram’s son Karti to vacate his Jor Bagh residence in New Delhi within 10 days.
According to the notice served Wednesday night, a copy of which has been accessed by ThePrint, the property was attached by the ED in October last year in connection with INX Media corruption case, in which the father-son duo are accused, and was confirmed by the appellate tribunal in March.
“Karti P Chidambram, son of P Chidambram, (50 per cent owner of the said property), is hereby directed to vacate said premise and hand over the possession of the property (50 per cent attached by ED and confirmed by Adjudicating Authority to the undersigned within 10 days from the date of receipt of this notice),” the notice stated.
“The immovable property situated at 115-A block 172, Jor Bagh, New Delhi-3 has provisionally been attached under section 5(1) PMLA issued by Deputy Director, Directorate of Enforcement,” it said. “The attachment was later confirmed by the authority on March 29, 2019.”
The property, jointly owned by Karti and his mother Nalini Chidambaram, will be kept at the disposal of the ED until further orders.
“The undersigned has been authorised to take the possession of the said property, which shall be at the disposal of the Directorate of Enforcement until further orders and such property shall be kept intact by all concerned for further proceedings under this Act,” the notice read.
While Karti, an MP from Sivaganga constituency in Tamil Nadu, is currently out on bail in the case, his father’s anticipatory bail plea is still pending before the Delhi High Court.
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The case
The case relates to Foreign Investment Promotion Board (FIPB) approval that was granted in 2007 for receipt of funds by INX Media. The FIPB is a national agency of the central government with the power to recommend foreign direct investment (FDI).
The CBI first filed a case in the matter on 15 May 2017, alleging irregularities in the FIPB clearance granted to the media group for receiving overseas funds to the tune of Rs 305 crore in 2007 during P. Chidambaram’s tenure as finance minister.
Subsequently, the ED also lodged a case against INX Media under Prevention of Money Laundering Act (PMLA).
According to the CBI’s FIR, the finance ministry had received an application from INX Media for an FIPB approval on 15 March 2007.
The FIPB, in a meeting with the ministry on 18 May 2017, recommended the proposal of INX Media, but a downstream investment by INX Media in INX News was rejected.
According to the CBI, despite FIPB’s rejection, INX Media violated the conditions and made downstream investment of up to 26 per cent in INX News.
The CBI said that in the process the company allegedly generated over Rs 305 crore of FDI in INX Media against the allowed foreign inflow of Rs 4.62 crore by issuing shares to foreign investors at a premium of over Rs 800 per share.
The CBI also alleged that FIPB officials concerned not only ignored illegalities on part of the INX Media, but also deliberately gave undue favours because they were influenced by Karti Chidambaram.
The FIR further said that FIPB officials also ignored the request of Revenue Department, seeking an investigation into the matter.
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