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Aircel-Maxis case: ED freezes Karthi’s assets worth Rs.1.16 crores

Wednesday, March 14, 2018 • Tamil Comments

Aircel-Maxis case: ED freezes Karthi’s assets worth Rs.1.16 crores

Troubled times are ahead for Karthi, son of former Union Finance Minister P. Chidambaram, as his Rs.1.16 crores worth assets have been frozen by the Enforcement Directorate.

Karthi is accused of being the ‘kingpin’ in the (illegal) transaction of more than Rs.750 crores in the Aircel-Maxis scam which occurred during the erstwhile Congress-led UPA regime at the Centre.  It is alleged that Aircel was ‘forced’ to sell its shares to Malaysia-based Maxis for which the latter transferred Rs.750 crores as ‘commission’.

High-flying Kalanidhi Maran, the Sun TV baron and his brother and former Union Telecom Minister Dayanidhi Maran were surprisingly acquitted in the case last year.  However, charges are still pending against Karthi as the investigating agencies haven’t substantiated the allegations with evidence. The Supreme Court has now directed that the interrogation in the case be concluded within the next six months.

It is in this backdrop that the Enforcement Directorate has frozen Karthi’s assts and properties worth Rs.1.16 crores which are controlled by Karthi’s firm ‘Advantage Strategic’.