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CBI sends Letters Rogatory to five counties seeking information on financial assets of P Chidambaram

Kickbacks received in return of illegal FIPB approvals were invested in movable and immovable properties in India and foreign countries by P Chidambaram

As the Central Bureau of Investigation continues the custodial investigation of P Chidambaram after a court had granted four days custody yesterday, the agency has now asked 5 foreign nations asking for information about funds parked in those countries by the Congress leader. According to reports, the CBI has sent Letters Rogatory to five different countries, where P Chidambaram and his son are accused of parking money using several shell companies.

The Letters Rogatory has been sent to UK, Switzerland, Bermuda, Singapore and Mauritius in connection with the INX Media case. Letter Rogatory means letters of request, which is used by countries to officially request for documents from a foreign country or foreign court.

According to the charges made against P Chidambaram by CBI and ED, he had granted illegal FIPB approval to six companies in return for kickbacks. And those kickback amounts were invested in movable and immovable properties in India and foreign countries. The agencies have identified several shell companies of Congress MP Karti Chidambaram, P Chidambaram’s son, formed both in India and outside India. The agencies have found that although the shell companies are registered under the names of different persons, the Chidambarams are actual beneficial owners of them.

A statement issued by CBI and ED had said that one such shell company is located at the British Virgin Islands and this company also features in Panama papers. The statement says that money parked in the shell companies have used for the personal expenditure of the Chidambaram family, opening more than 2 dozen foreign bank accounts and depositing money in them, purchasing several immovable properties in different countries like Malaysia, UK, Spain etc.

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OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

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