Chennai: Madras high court has reserved its order on the appeals moved by former Union minister P. Chidambaram’s wife, son and daughter-in-law, challenging the prosecution initiated by the income tax department under the Black Money Act.
A division bench of Justice S. Manikumar and Justice Subramonium Prasad, before whom the appeal was filed by Chidambarm’s wife Nalini Chidambaram, his son Karti Chidambaram and Karti’s wife Srinidhi, came up for hearing on Monday, reserved their order.
Senior advocate Gopal Subramanium appeared before the court on behalf of the petitioners. Earlier, on August 31, the bench dispensed with the appearance of Nalini Chidambaram, Karti Chidambaram and his wife Srinidhi before the special court for economic offences cases, Egmore till September 14.
The I-T department initiated proceedings against the trio under the Act and alleged that the trio failed to disclose a property worth Rs 5.37 crore which they jointly own in Cambridge, UK, which would amount to offence under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act.
The department also alleged that Karti had failed to disclose an overseas bank account he holds with Metro Bank in UK and investments he had made in Nano Holdings LLC, USA. Karti had 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.
Challenging the prosecution, they approached the Madras high court. After a single judge of the court refused to grant any relief, they filed the present appeal.
On June 27, the first bench headed by the then Chief Justice Indira Banerjee had reserved its order on the appeal. After the CJ was elevated to the SC, the appeal was referred to the bench headed by Justice Manikumar for rehearing.
