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My Businesses Are Fully Compliant With Laws: Karti Chidambaram

Karti P. Chidambaram, allegations against whom led to stalling of Parliament on Tuesday, said his business was fully compliant with all laws and regulations of the country, and rejected charges of money laundering.

Following allegations in a newspaper that he had built a huge business empire for himself, Mr. Karti Chidambaram, an AICC member and son of former Union Minister P. Chidambaram, said: “My businesses are fully compliant with all the laws and regulations.”

In a statement, he said, “One newspaper has made allegations against me, which have been adequately refuted in the past. Myself and my business are fully compliant with all laws and regulations.”

The daily alleged that he had built a “huge business empire for himself in different parts of the world and that this had come to light through documents recovered during raids by the Enforcement Directorate and the investigation wing of Income Tax in a scam case.”

Later, Mr. Karti Chidambaram told reporters that “all my businesses are completely compliant. All filings are up to date. All statutory regulatory filings are completely up to date. That is all I have got to say,” “If I am compliant, I can't be money laundering,” he said.

Both Houses of Parliament were adjourned on Tuesday following ruckus by AIADMK members, demanding action against Mr. Karti Chidambaram over the allegations.

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