You are here: Home » PTI Stories » National » News
Business Standard

Karthi Chimdabaram gets anticipatory bail in Black Money case

Press Trust of India  |  Chennai 

In a late night hearing, the granted to Karthi Chidambaram, son of former Union P in connection with the warrant issued against him by the Income tax department under the Black Money Act for allegedly not disclosing foreign assets.

The court on Saturday also directed the I-T department to keep in abeyance the warrant issued against him until he returned from his trip abroad.

Karthi gave an written undertaking to appear before the concerned IT on June 28.

Apprehending arrest following issuance of warrant, Karthi Chidambaram's counsels, A R L and Satish Parasaran, knocked on the doors of the residence of late last night.

However, they were instructed to approach the with the petition.

On being informed that a application has been filed before Justice A D Jagadeesh Chandra, the IT department's AP Srinivas appeared at the judge's residence along with an IT

During the midnight hearing at the judge's residence, the I-T department said three summons had already been issued to Karthi directing him to personally appear before it to record his statement in connection with the probe into alleged non-disclosure of assets abroad.

Since he did not do so, a warrant was issued by the department under Section 8(1) of the Black Money Act, the said.

The warrant was served by the city police to secure his presence and to appear before the

Hence, moved the High Court at around midnight seeking

A copy of the bail plea was served to the for the I-T department, who accompanied him.

The counsel for I-T dept then submitted that Karthi had already got permission from the on May 18, 2018 to travel abroad.

He had already filed an affidavit before the stating that he would like to go abroad on Sunday (today).

Referring to the top court order, submitted that he had already made arrangements to go abroad with his wife and daughter, but that the warrant was issued by the I-T department in the meantime.

To this, the I-T department submitted that the warrant was issued as he has not appeared pursuant to the summons issued.

The department said it would keep the warrant in abeyance if gave an undertaking to appear before the official concerned on his return on the stipulated date.

Accordingly, Karthi Chidambaram gave a written undertaking that he would appear before the official on June 28.

Recording it, the directed the I-T department to keep the warrant in abeyance and ordered it to inform the police station concerned of the same and closed the petition.

The income tax department had slapped the Black Money Act on Karti last year after it found that assets created by him abroad were in alleged violation of law

The new with cases of overseas illegal assets, which till recently were probed under the Income Tax Act, 1961.

The new legislation has provisions for a steep 120 per cent tax and penalty on undisclosed foreign assets and income, besides carrying a jail term of up to 10 years.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, June 10 2018. 18:20 IST
RECOMMENDED FOR YOU