Chidambaram's family appears before court

By NT Bureau Published on Jun 25, 2018 01:40 PM IST

Karti Chidambaram and his wife Srinidhi at court today.

Chennai: Former Union Minister P Chidambaram's wife Nalini Chidambaram, son Karti Chidambaram and daughter-in-law Srinidhi today appeared before the special court for economic offene cases at Egmore.

After interrogation, the court asked Karti Chidambaram to appear again and postponed the next hearing to 23 July.

The court issued summons to them on 20 June in connection with the prosecution initiated by the Income Tax Department under the Black Money Act.

Tax authorities had filed a complaint against them over alleged non-disclosure of overseas assets, which is an offence under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act.

According to the tax department, the trio failed to disclose a property they jointly own in Cambridge in the UK, worth Rs. 5.37 crore.

Apart from this, the department has alleged that Karti Chidambaram had failed to disclose an overseas bank account he holds with Metro Bank in the UK and investments he had made in Nano Holdings LLC, USA.

In addition to this, Karti also failed to disclose investments made by Chess Global Advisory, a company co-owned by him which amounts to an offence under the Black Money Act, the department said in its complaint.

Assailing the I-T department's plaint, the trio moved the High Court seeking an interim order staying the prosecution and to direct the department to provide a copy of the complaint to them. They alleged the authority, which ordered sanction for the prosecution, had no such authority under the Income Tax Act.

Opposing the plea, the department said the petitions were too premature, since only a complaint has been filed in the special court.

Concurring with the submissions, the High Court on 30 May refused to stay the proceedings of the prosecution before the trial court.