ED issues show cause notice to Karti Chidambaram for alleged forex violation
In a series of tweets, the Enforcement Directorate said it served notice to two Chennai firms. “ED serves notice to M/s Advantage Strategic Consulting for Rs 45 crore for FEMA contraventions in sale of Vasan Shares to overseas investors.”
The ED also served notice to Vasan Health Care Pvt Ltd for FEMA contraventions to the tune of Rs 2,262 crore.
The ED in December, last year, had raided the office of Chess Global Advisory Services Private Limited in Chennai, reportedly run by Karti Chidambaram in connection with the forex violation by the farm and Vasan Healthcare - a company with which Karti was reportedly associated earlier. A large number of documents and files including a laptop were seized from the office.
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