Chidambaram-Karti

CBI Raids Residences of Chidambaram, Karti

Chennai: The Central Bureau of Investigation (CBI) authorities carried out raids at the residences of former Union Finance Minister P. Chidambaram and his son Karti Chidambaram here today.

Sources from the CBI here said that a nine-member team from the investigation agency also conducted searches at more than 10 places in the State.

Recently, Enforcement Directorate (ED) had issued a show-cause notice to Karti Chidambaram and a company linked to him for alleged violations of the Foreign Exchange Management Act (FEMA) laws to the tune of more than Rs 40 crore.

The ED also issued similar notice to Chennai-based Vasan Health Care Private Limited for alleged forex violation of more than Rs 2,000 crore. Earlier this year, the Madras High Court dismissed Karti Chidambaram’s plea seeking to quash the summons issued to him by the ED regarding Aircel-Maxis case.