INX Media case: PMLA authorities confirm ED order of attachment of properties

New Delhi [India], Mar 30 (ANI): The adjudicating authority under PMLA on Friday confirmed an Enforcement Directorate (ED) order of attachment of properties in INX Media money laundering case.
ED had attached properties of Rs 22. 28 crore belonging to Karti P Chidambaram, son of former Union Minister P Chidambaram.
The other properties attached by the ED belonged to three business entities.
Nitesh Rana, appearing on the behalf of Enforcement Directorate, said: “The proceeds of crime have been estimated to be of Rs 62.68 crore on the basis of records and documents available with ED."
"Only assets worth Rs 53.93 crore could be identified and hence provisionally attached. Out of these assets worth Rs 22.28 crore belonging to Karti P Chidambaram. Further, assets will be attached subsequently after the identification as per law.”
The ED had registered a PMLA (Prevention of Money Laundering Act)  case based on FIR by the CBI and alleged that irregularities took place in the FIPB clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when Chidambaram was the Union Finance Minister.
Both the investigating agencies were also probing how Chidambaram's son Karti managed to get the FIPB clearance.
Karti Chidambaram was arrested on February 28, 2018. He was later granted bail.
The ED probe so far showed that for the FIPB approval, INX Media directors Peter and Indrani Mukerjea met P Chidambaram so that there was no delay in their application.
The ED has attached properties worth Rs 54 crore belonging to Karti Chidambaram and a firm in connection with the case. It has also attached properties belonging to the Mukerjeas in connection with the same case. (ANI)