More cases under PMLA against Karti are found during UPA I, II: ED Sources

New Delhi: According to an affidavit filed by Enforcement Directorate (ED) in the Supreme Court, there have been revealed 54 cases of the Foreign Investment Promotion Board (FIPB) clearances. The affidavit that was exclusively accessed by The Quint, says that these cases are being probed by the investigating agency.

Around 2,721 files-related to FIPB clearances, screened by ED, pertain to the period of UPA I and II government, that is from May 2004 to 2009, and August 2012 to May 2014. During this period, P Chidambaram was the Finance Minister of UPA. The shortlisted files are of FIPB clearances-which were given to various companies.

Under the Prevention of Money Laundering Act (PMLA), the ED also examined ‘the then Secretary, Additional Secretary, Deputy Secretary and Under Secretary’ of the Ministry of Finance. The started investigation of the shortlisted files by ED had eight cases, where the clearances were illegally provided, the agency alleges.

The case of INX media is one amongst the eight that was moved by ED to CBI for registering an FIR under the Prevention of Corruption Act. “We cannot divulge details of the remaining seven cases because it will jeopardise our investigation. In all seven cases, we have found the alleged involvement of Karti Chidambaram,” a senior ED Officer said as per the Quint.