Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

ED Issues Notice to Karti Chidambaram For Forex Violations

The agency also issued a similar notice, after over two years of investigations, to another firm M/s Vasan Health Care Private Limited, which is based in Chennai, for alleged forex violations of Rs 2,262 crore.

PTI

Updated:April 17, 2017, 1:54 PM IST
facebookTwitterskypewhatsapp
ED Issues Notice to Karti Chidambaram For Forex Violations
File photo of Karti Chidambaram, the son of former Finance Minister P. Chidambaram.
Loading...

New Delhi: The Enforcement Directorate (ED) has issued a show-cause notice to Karti Chidambaram and a firm purportedly linked to him for alleged violations of the FEMA laws to the tune of Rs 45 crore.

The agency also issued a similar notice, after over two years of investigations, to another firm M/s Vasan Health Care Private Limited, which is based in Chennai, for alleged forex violations of Rs 2,262 crore.

"The total amount of contravention identified on different counts and found to have been committed by M/sAdvantage Strategic Consulting Private Limited in the sale transaction of shares of Vasan (Chennai firm) to overseas investors is around Rs 45 crore.

"Show-cause notice has been issued to M/s Advantage Strategic Consulting Private Limited, its directors and also to Karti P Chidambaram who appears to be the controller and ultimate beneficiary in these transactions," the ED said in its notice.

Karti is the son of senior Congress leader and former finance minister P Chidambaram. The total amount of contravention identified by the ED, under the provisions of the Foreign Exchange Management Act(FEMA), by M/s Vasan Healthcare Private Limited and its overseas investors on different counts in the investments received from overseas investors is around Rs 2,100 crore and and additional Rs 162 crore, thereby totalling to Rs 2,262 crore.

| Edited by: Swati Sharma
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results