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ED raids Karti premises Chidambaram says agency has no jurisdiction



India January 13(IM): Following the Enforcement Directorate's (ED) raids on the premises of his son Karti Chidambaram, senior Congress leader P Chidambaram questioned the jurisdiction of the agency to investigate a matter related to Prevention of Money Laundering Act, 2000.

"They (ED officials) searched & found nothing but since they had to justify themselves they took papers of a statement made by government in the Parliament, few years back. The ED has no jurisdiction to investigate under PMLA," he added.The minister was responding to ED raids conducted today on multiple premises -- one location in Delhi and four in Chennai -- of his son Karti Chidambaram in the INX media money laundering case."There is no FIR concerning a scheduled crime by CBI or any agency. I anticipated they'll search premises in Chennai again but in a comedy of errors they came to Jor Bagh (in Delhi) and officers told me that they thought Karti is an occupant of this house but he is not," he said.

The Congress, too, was critical of the action against its senior leader and termed the ED raids "a malicious vendetta" by PM Narendra Modi and his government against senior Congress leaders."Not surprised by the malicious vendetta being unleashed against senior Congress leaders including P Chidambaram and his son. Everyday PM Modi and his government use ED and CBI as captive puppets to seek revenge from opposition," said Congress leader Randeep Surjewala.The raids were conducted in connection with INX media money laundering case filed against Karti Chidambaram by ED in May last year.Karti is accused of receiving Rs 3.5 crore for facilitating Foreign Investment Promotion Board (FIPB) clearance for INX Media, now 9X Media.The ED, which is probing financial misappropriation in the case, has contended that Mukerjeas had "allegedly siphoned off 90 million pounds and the money is suspected to have gone to foreign countries through hawala routes".Following the FIPB clearance, the INX Media said it had received Foreign Direct Investment (FDI) of Rs 46.20 million, but actually received Rs 3,053.60 million between August 2007 and May 2008, the ED said.Accordingly, this excess foreign exchange equivalent to Rs 3,004.40 million, beyond the disclosed the permitted foreign investment, was received by INX Media from three Mauritius-based investors, said the ED.

SOURCE:THE TIMES OF INDIA

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