New Delhi, April 17: The Enforcement Directorate (ED) issued a show cause notice to Karti Chidambaram and others in connection to alleged forex violations almost amounting to Rs 45 crore. The ED made this public using their Twitter handle and said that it has served notice to two firms in Chennai. Noteworthy that, Karti Chidambaram, who is the son of former finance minister P Chidambaram is also a member of the Indian National Congress (INC) and All India Congress Committee.
As per the tweets, the Enforcement Directorate served the notice to two Chennai firms, the first being, M/S Advantage Strategic Consulting for Rs 45 crore for Foreign Exchange Management Act (FEMA) contraventions in sale of Vasan Shares to overseas investors. The second firm is Vasan Health Care Private Limited for FEMA contraventions to the tune of Rs. 2, 262 crore.
As of now, no response has been received from the end of Karti Chidambaram.
More information awaited.