INX case: ED attaches Rs 54 cr of Karti Chidambaram's properties in India & abroad
The Enforcement Directorate on Thursday said that it has attached properties worth Rs 54 crore of former Union Finance Minister P. Chidambaram's son Karti Chidambaram and Advantage Strategic Consulting Pvt Ltd (ASCPL) in connection with its ongoing probe into the INX media money laundering case.
 
A senior official of the financial probe agency told IANS: "We have attached six properties of Karti worth Rs 54 crore."
 
The properties attached include a cottage worth Rs 8.67 crore in the UK's Somerset, a tennis club and land located in Spain's Gava worth Rs 14 crore.
 
The ED also attached land and properties worth Rs 16 crore in New Delhi's Jor Bagh area (Karti's mother Nalini Chidambaram is also a stake holder of 50 per cent in the land), a bungalow in Tamil Nadu's Ooty worth Rs 50 lakh and another one worth Rs 3.75 crore in Ooty and an agricultural land worth Rs 25 lakh in Kodaikanal.
 
The ED has also attached properties belonging to Peter and Indrani Mukerjea in connection with the same case.
 
The properties were attached under the section of Prevention of Money Laundering Act (PMLA). 
 
Karti is facing probes by the ED and the Central Bureau of Investigation (CBI) in several cases, including alleged irregularities in the Foreign Investment Promotion Board clearance to then INX Media for FDI in 2007 and the Aircel-Maxis case in 2006 and a money laundering case.
 
The ED and the CBI are probing how Karti managed to get clearance from the Foreign Investment Promotion Board (FIPB) when his father was in office.
 
Karti was arrested on February 28 by the CBI for allegedly taking money to facilitate the FIPB clearance to INX Media in 2007. He was later granted bail.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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SC seeks details of Rafale deal decision making process
The Supreme Court on Wednesday asked the government to disclose the details of the decision making process for the purchase of 36 Rafale fighter jets in a ready-to-use condition.
 
A bench of Chief Justice Ranjan Gogoi, Justice Sanjay Kishan Kaul and Justice K.M. Joseph clarified that the information sought was not related to pricing or suitability of the jets.
 
The information should be furnished in a sealed cover and reach the court by October 29 -- the next date of hearing, the bench said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 
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COMMENTS

SuchindranathAiyerS

1 week ago

India's alien if not fringe Supreme Court might, one day, in competition with the Executive Branch, abolish arms in the armed forces on the basis of a PIL as it is assiduously abolishing native religions, traditions and culture.

Cabinet nod for railways' plans to commercially develop space at stations
Paving the way for large-scale modernization of railway stations, the Union Cabinet on Wednesday approved Railways' station redevelopment plans so as to commercially develop space in and around stations, Union Law Minister Ravi Shankar Prasad said on Wednesday.
 
The Cabinet, under the chairmanship of Prime Minister Narendra Modi, also provided for a longer lease tenure of up to 99 years from the previous 45 years. 
 
According to Prasad, the name of the agency would be Indian Railway Stations Development Corp Ltd (IRSDC). Calling the Cabinet decision a progressive move, Prasad said: "IRSDC shall be the nodal agency for the development of railway stations across the country." 
 
Developing railway facilities will not only benefit the commuters but also help the Indian Railways make use of its unused or under-used properties. 
 
"It was a decisions based on the feedbacks collected from the government's earlier railway modernisation attempts," Prasad said. 
 
The Minister said redevelopment of major stations across the country is planned by leveraging commercial development of land and air space in and around the station, saying "this program will help provide state-of-the-art amenities for passengers, generate additional revenues and will be overall at least cost neutral to Ministry of Railways over a basket of stations."
 
"Furthermore, redevelopment of railway stations across the country will have a multiplier effect in the economy with increased job creation and improved economic growth."
 
"IRSDC being the nodal agency will prepare the overall strategic plan and business plans for individual or a group of stations ensuring cost neutrality of this programme. Upon approval of business plans by Ministry of Railways, IRSDC or other project development agencies will take up the work of station redevelopment," Prasad said. 
 
He said that Railway/RLDA/IRSDC will be planning and development authority for Railway land in consultation with urban local bodies, DDA or other Union Territories, to transfer land on free-hold basis to Railways. This would enable Ministry of Railways to accelerate the redevelopment of major stations across the country on an overall cost neutral basis. These redevelopment efforts will lead to creation of state-of-the-art smart stations that will function as mini smart cities.
 
"Railway passengers and Industry shall be benefited at large. Passengers will now get amenities at par with international railway terminals and a large number of local job creation is expected as a positive external outcome of this program," he added. 
 
A Cabinet approval was obtained on June 24, 2015 to redevelop ‘A1' and ‘A' category stations by Zonal Railways through Cabinet approved procedures and for a lease period of 45 years. However, insufficient interest was visible amongst the prospective bidders. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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