EW DELHI: The Enforcement Directorate on Friday conducted raids in Chennai and Kolkata, including at the premises of a relative of former Finance Minister P Chidambaram, in reference to its cash laundering probe in the Aircel-Maxis case, legitimate assets said.
They said four places in Chennai and two in Kolkata are being searched by way of the agency sleuths since early morning.
The motion has also been conducted at the premises of 1 S Kailasam at Tenaympet in Chennai. Kailasam is the maternal uncle of Karti Chidambaram, the son of the previous finance minister, the assets said.
The others being searched in the Tamil Nadu capital were identified as S Sambamoorthy and Ramji Natarajan.
Two places of Manoj Mohanka at Lee highway and Lovelock Place are also being raided, they said.
The ED case relates to the Foreign Investment Promotion Board (FIPB) approval granted in 2006 by way of P Chidambaram.
The agency had said it is investigating "the circumstances of the said FIPB approval granted by the then finance minister (P Chidambaram)".
The ED also alleged that Karti has "disposed" of a property in Gurgaon, which he had allegedly rented out to a multinational corporate "to whom foreign direct investment (FDI) approval had been granted in 2013".
It charged that Karti had "also closed certain bank accounts and attempted to close other bank accounts in order to frustrate the process of attachment" below the PMLA.
The agency said FIPB approval in the Aircel-Maxis FDI case was granted in March, 2006 by way of the then FM although he was competent to accord approval on venture proposals best as much as Rs 600 crore and past that it required the approval of the Cabinet Committee on Economic Affairs (CCEA).
"In the instant case, the approval for FDI of 800 million USD (over Rs three,500 crore) was sought. Hence, CCEA was competent to grant approval.
"However, approval was now not acquired from CCEA," it alleged.
They said four places in Chennai and two in Kolkata are being searched by way of the agency sleuths since early morning.
The motion has also been conducted at the premises of 1 S Kailasam at Tenaympet in Chennai. Kailasam is the maternal uncle of Karti Chidambaram, the son of the previous finance minister, the assets said.
The others being searched in the Tamil Nadu capital were identified as S Sambamoorthy and Ramji Natarajan.
Two places of Manoj Mohanka at Lee highway and Lovelock Place are also being raided, they said.
The ED case relates to the Foreign Investment Promotion Board (FIPB) approval granted in 2006 by way of P Chidambaram.
The agency had said it is investigating "the circumstances of the said FIPB approval granted by the then finance minister (P Chidambaram)".
The ED also alleged that Karti has "disposed" of a property in Gurgaon, which he had allegedly rented out to a multinational corporate "to whom foreign direct investment (FDI) approval had been granted in 2013".
It charged that Karti had "also closed certain bank accounts and attempted to close other bank accounts in order to frustrate the process of attachment" below the PMLA.
The agency said FIPB approval in the Aircel-Maxis FDI case was granted in March, 2006 by way of the then FM although he was competent to accord approval on venture proposals best as much as Rs 600 crore and past that it required the approval of the Cabinet Committee on Economic Affairs (CCEA).
"In the instant case, the approval for FDI of 800 million USD (over Rs three,500 crore) was sought. Hence, CCEA was competent to grant approval.
"However, approval was now not acquired from CCEA," it alleged.
Aircel-Maxis case: ED conducts raids in Chennai, Kolkata
![Aircel-Maxis case: ED conducts raids in Chennai, Kolkata]()
Reviewed by Kailash
on
December 01, 2017
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