Chennai: Family members of former Union finance minister P Chidambaram appeared before the Chief Metropolitan Magistrate, Egmore on Monday in connection with the proceedings initiated against them by Income Tax Department under Black Money Act.
However, his son Karti Chidambaram did not appear before the court. The matter pertains to proceedings initiated by Income Tax department for failure to disclose details regarding an overseas bank account of Karti Chidambaram maintained in Metro Bank in UK.
According to IT Department, Karti had not disclosed details of an overseas bank account he maintained in Metro Bank in UK and investments he made in Nano Holdings LLC, USA. 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 alleged that Nalini, Karti and Karti’s wife Srinidhi had not disclosed '5.37 crore worth property they jointly own in Cambridge, in UK and Rs 3.28 crore worth properties in USA.
Earlier, when the matter came up for hearing, CMM, S Malarvizhi, ordered the personal appearance of Nalini, Karti and Srinidhi on August 20. As per orders of the judge, Nalini and Srinidhi have appeared before the court on Monday. Counsel Muralidaran has appeared on behalf of IT department.
The court ordered issuance of documents relating to the proceedings to Nalini and Srinidhi. Counsel for Karti has submitted that Karti has gone to London after getting permission from Supreme Court. Later the judge directed Karti to appear before the court on September 3 and adjourned the matter.
