NEW DELHI: The appellate tribunal for PMLA has upheld ED's attachment of properties and other assets of Congress MP Karti Chidambaram, including his house at Jor Bagh in New Delhi, which he owns jointly with his father P Chidambaram in the ratio of 50% each. The share of Karti in the Jor Bagh house is worth Rs 16 crore-the declared value as per his income tax return.
The tribunal, in its Oct 29 judgment, clarified that the interim protection orders (status quo directions issued earlier for attachment) would not survive after dismissal of the appeal.
The other attachment includes six bank deposits of Rs 93,51,961 each in Indian Overseas Bank in Chennai and another deposit of Rs 62,34,641. Total attachment of Rs 54 crore was made.
The attachment was challenged by Karti Chidambaram on the grounds that the agency did not file chargesheet within the stipulated 365 days of the attachment of assets and thus should be vacated. He said that while the attachments were confirmed on 29 March 2019, the agency filed its chargesheet after 430 days, on June 1, 2020.
"Section 8(3)(a) of PMLA stipulates that the attachment after its confirmation by the adjudicating authority, shall continue during investigation for a period not exceeding 365 days," he said and argued that the continued attachment of the properties, including the Jor Bagh house, post March 2020 was bad in law. Chidambaram urged the Tribunal to set aside the attachment and release the property.
The tribunal, however, upheld the attachment while taking cognisance of ED's arguments that the extraordinary situation arising out of the Covid pandemic and lockdown "legally entitled" the agency to file the prosecution complaint beyond the ordinary 365-day period.
"The protection given through interim order dated 03.09.2019 to residential property of appellant against the eviction from the said property and against the notice issued under Section 8(4) of the PMLA, cannot be continued with the disposal of the appeal," the tribunal said.
The tribunal, in its Oct 29 judgment, clarified that the interim protection orders (status quo directions issued earlier for attachment) would not survive after dismissal of the appeal.
The other attachment includes six bank deposits of Rs 93,51,961 each in Indian Overseas Bank in Chennai and another deposit of Rs 62,34,641. Total attachment of Rs 54 crore was made.
The attachment was challenged by Karti Chidambaram on the grounds that the agency did not file chargesheet within the stipulated 365 days of the attachment of assets and thus should be vacated. He said that while the attachments were confirmed on 29 March 2019, the agency filed its chargesheet after 430 days, on June 1, 2020.
"Section 8(3)(a) of PMLA stipulates that the attachment after its confirmation by the adjudicating authority, shall continue during investigation for a period not exceeding 365 days," he said and argued that the continued attachment of the properties, including the Jor Bagh house, post March 2020 was bad in law. Chidambaram urged the Tribunal to set aside the attachment and release the property.
The tribunal, however, upheld the attachment while taking cognisance of ED's arguments that the extraordinary situation arising out of the Covid pandemic and lockdown "legally entitled" the agency to file the prosecution complaint beyond the ordinary 365-day period.
"The protection given through interim order dated 03.09.2019 to residential property of appellant against the eviction from the said property and against the notice issued under Section 8(4) of the PMLA, cannot be continued with the disposal of the appeal," the tribunal said.
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