Chidambaram's son distances himself from ED raids

"I was informed that they are investigating three firms of which two belong to my friends," he said in a statement

The Enforcement Directorate (ED) conducted raids here on Wednesday on firms allegedly connected to ex-finance minister P Chidambaram's son who said neither he nor his family is a shareholder in any of the firms.

In a statement issued here, Karti Chidambaram said some officers of the investigating agencies visited his office on Wednesday.

"I was informed that they are investigating three firms of which two belong to my friends. They are owned by professionals and managed by Competent Board of Directors. I am not aware of the third firm," he said.

"I made it clear to the officers what I had publicly stated earlier. Neither I nor any member of my family is a shareholder or director of any of the said firms. We do not have any economic interest in the said firms."

He said that as the allegations of his connection with the firms was "false" and that "relating to the said firms" was found in his office.

He said there was no "basis for them to have visited by office or to make any enquiries in my office".