The Income Tax and Enforcement Directorate officials conducted a joint search operation on two firms in Chennai, today which are said to be linked to Mr Karti Chidambaram, son of former union finance minister P.Chidambaram.
Investigations by the sleuths of the two agencies are going on into the reported cash and share transactions of the private firm Advantage Strategic Consulting in the telecom provider Aircel and also an hospital chain, on which today’s searches were made.
However, Mr P.Chidambaram has firmly denied the charges saying, none of his family members have got any stake in the firms. He has said in a statement, he and his family are prepared to face the action which he termed as malicious.