His woes are not likely to end anytime soon.
If the Ishrat Jahan controversy is becoming a nuisance for him, his own son’s actions are giving P Chidambaram sleepless nights.
Raids conducted by Enforcement Directorate and Investigation Wing of Income Tax in relation to the Aircel-Maxis scam have revealed that Karti Chidambaram:
Between 2006 and 2014, when P Chidambaram held the posts of finance minister and home minister, Karti’s business dealings literally stretched from east to west.
The 14 places are: London, Dubai, South Africa, Philippines, Thailand, Singapore, Malaysia, Sri Lanka, British Virgin Island, France, USA, Switzerland, Greece and Spain. His dealings include multi-million dollar real estate investments.
Now let us see Karti’s kirti:
1. His company, Advantage Strategic Consulting Singapore Ptv Ltd., owns 88 acres at Surridge Farm in Somerset, UK, worth one million Pounds.
2. Through that company, Kirti owns a huge resort in Sri Lanka which already owns many other popular resorts and hotels.
3. His company bought three farms and vineyards in South Africa, and a wine and stud farm in Ashton. Money routed via Dubai.
4. The authorities have raised flags on many other similar dealings.
How is Karti connected to the Aircel-Maxis scam?
- Karti Chidambaram is a 94 per cent equity holder in Ausbridge Holding and Investments Pvt Ltd, which bought shares in Advantage Strategic Consultancy Pvt Ltd.
- Advantage Strategic Consultancy Pvt Ltd holds Aircel.
- Aircel was then bought by Maxis in 2006.
- Subramanian Swamy accused Karti of giving a Rs.26 lakh loan to Aircel Televentures through ASC just before the buyout in return for a 5 per cent stake.
- Swamy alleges that the loan amount is far lower than the book value of the shares.
And this is what has been keeping the parliament stalled.