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Probing money transferred, invested abroad by Karti's firm: ED tells court

Press Trust of India  |  New Delhi 

The has told a that it is investigating the transfer of Rs 32.91 crore by P Chidambaram's firm to a Singapore-based company and another investment of Rs 15.79 crore with erstwhile French

The agency in its charge sheet filed yesterday accused P Chidambaram of non-cooperation in the Aircel-Maxis deal money laundering probe.

It said that (ASCPL), controlled by Karti, has transferred funds to Singapore-based Pvt Ltd so that the funds collected in in ASCPL may be used by him outside the country.

The charge sheet further informed that ED is probing two million euro (Rs 15.79 crore) invested by ASCPL with Caujolle, alleging that did not cooperate in connection with a mail exchanged between him and the

ED's (SPP) Nitesh Rana submitted before the court that ASCSPL was incorporated on August 29, 2006 by Padma Bhaskararamana, a in ASCPL, and A Selvakumar as per the directions of Karti, it said, adding that the funds were transferred under the cover of the loan and equity investment.

"It is submitted that this court has issued on December 1, 2015 Letter of Request under Prevention of Money Laundering Act (PMLA) for investigation in The response is still awaited.

"Further investigation to identify identify assets laundered abroad is still continuing. The probe has revealed that although Advantage was incorporated in 2006, the reports to RBI in respect to these investments were filed only from 2011 onwards. At this stage use of this company to receive illegal gratification overseas is not ruled out," ED's SPP N K Matta submitted in the charge sheet.

The charge sheet further informed that the ED is probing two million euro (Rs 15.79 crore) invested by ASCPL with Caujolle, alleging that Karti did not cooperate in relation to a mail exchanged between him and the

"The extracts of his statement reveal his non-cooperation with the probe, his evasive replies and avoidance to state the truth. For example, for recording of his statement on April 10, Kari was shown an email dated October 28, 2014 where Karti was in discussion with J F Caujolle for an investment of Euro two million for 20 per cent stake.

"On being asked about the mail, Karti replied that the question had nothing to do with the case, that Caujolle is a respected figure in tennis and was discussion a potential opportunity. It may be highlighted here that ASCPL, controlled by Karti, made an investment with Caujolle which is still investigation," the charge sheet, filed through A R Aditya, said.

The email sent in October 2014 talks about an investment was made in relation with a tennis tournament and cities.

In the charge sheet, the ED has alleged that Karti controlled two firms -- ASCPL and (CMSPL) -- which allegedly received Rs 1.16 crore as bribe money in the Aircel-Maxis money laundering case.

Apart from Karti, the agency has also named ASCPL and its directors and Ravi Viswanathan, and CMSPL and its in the charge sheet under section 4 (punishment for money laundering) of the Prevention of Money Laundering Act (PMLA).

The ED had registered the case under the sections of PMLA on February 7, 2012 on basis of an FIR registered by the CBI.

The agency told the court that it might file a supplementary charge sheet in the case.

The court has already granted interim protection from arrest till July 10 to Karti in two cases filed by the CBI and the ED in 2011 and 2012, respectively in the Aircel-Maxis matter arising out of 2G spectrum cases, while his anticipatory bail plea is pending before the court.

P Chidambaram has also been granted protection from arrest till July 10 by a court here in the present money laundering case while his anticipatory bail is pending before the court.

The matter pertains to grant of FIPB clearance to M/s for investment in

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

First Published: Thu, June 14 2018. 20:30 IST
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