There are many firms that the Enforcement Directorate sent out summons to after it found that it had dealt with Karti Chidambaram linked companies. While INX media was under the focus during the CBI raids that were conducted on Tuesday, it must be noted that several other firms too had been summoned by the ED which originally conducted the probe.
The ED issued the summons under the Prevention of Money Laundering Act or the PMLA to Essar Steel Limited, VST Tillers Tractors, Diageo Scotland Limited; and the Katra Group. INX Media is one of the 20 odd firms which are under the scanner for transactions with Advantage Strategic Consulting Private Limited (ASCPL) and Chess Management Services. The summons was issued after it was alleged that these companies had made payments allegedly to the two firms at the time of their FIPB applications or clearances.
With an FIR being filed by the CBI, the investigations could widen. The ED says it has the testimony of a director of ASCPL in which there is an admission on which companies to send the invoices to. It is alleged that the director had also admitted that hardly or no professional services were rendered.
In the summons issued, the ED has sought for details of the bank accounts, annual returns, FDs and ECR/GBR received by the company between the years 2005 and 2008. Further the ED has also sought to know the details of consultancy received by the company during 2005 and 2008.