Karti Chidambaram was granted anticipatory bail by the Madras High Court, hours after the Income Tax department had issued a warrant against him in a case relating to black money. He was granted bail in a midnight hearing of the Madras HC.
The Income Tax Department (ITD) has unearthed black money of over Rs 215 crore after it conducted multiple raids over the weekend against two real estate groups who were selling land and farmhouses on the Yamuna plains to high-end investors in the national capital, officials said.
Former Union Minister, P Chidambaram would find himself in a spot of bother after the Public Accounts Sub Committee sought a CBI probe against him for the controversial 80:20 gold import scheme. The PAC has alleged that Chidambaram had ignored objections of the Department of Revenue Intelligence.
The scanner is on the Angadias following an expose that suggested huge sums of black money was being brought in for the Gujarat elections. With the Election Commission capping the expenditure at Rs 28 lakh per candidate, many are relying heavily on black money.
Arun Jaitley delivered a well researched speech, but overlooked L K Advani’s advise to refrain from personal attacks says former finance minister of India,. Yashwant Sinha.
Providing a major boost in the war against black money, India and Switzerland have decided to exchange banking information.
At least Rs 560 crore black has been unearthed in the last fiscal year, the government has said in a report.
Kolkata, Dec 24: The Enforcement Directorate arrested businessman Parasmal Lodha from Mumbai for converting over Rs 25 crore old currency into new notes.