Bengaluru, Sept 21: The Enforcement Directorate will probe if there were any financial dealings between the companies owned by Karti Chidambaram and V Dwarakanathan who is a stake holder in the Vasan Health Care Private Ltd.
The ED has sought to know from Dwarakanathan about some of the transactions he had made with the companies that were owned by Karti, the son of former union minister, P Chidambaram.
The ED is probing some transactions of Vasan Health Care Pvt Ltd which is a conglomerate owning 175 hospitals in India, Colombo and Dubai.
The ED seeks to know about the sale of 1.5 lakh shares to the Advantage Strategic Consulting Private Limited in October 2008.
An official with the ED informed OneIndia that they are trying to find out if Karti has a stake in any of these firms.
This probe comes in the wake of another probe by the ED. The ED has been probing an ambulance scam involving the Ziqitza Health Care Ltd. Karti had however clarified that he is not a stakeholder in that company.
What the ED wants to know:
The probe by the ED is to find out the transactions which involved huge sums of money which went into Vasan Health Care Pvt Ltd (VHPCL).
The ED is trying to ascertain if Karti Chidambaram had a role in these transactions and if he is linked with VHPCL. The ED says that it is probing the case under the provisions of the Prevention of Money Laundering Act of 2002.
The ED sought information from Dwarakanathan on the IT returns he has filed from 2004 to 2011, the details of assets, bank accounts and transactions he has done with the companies in which Karti has a stake.
The VCPHL case:
The allegation is that VHPCL which was incorporated in the year 2007 with Dr Arun and his wife, Meera as the first shareholders. It was also alleged that three lakh shares were given to Dwarakanathan.
However, the allegation was that Dwarakanathan transferred 1.5 lakh shares to a company known as Advantage Strategic Consulting Private Ltd, two third of which is owned by Ausbridge Holdings and Investments Private Ltd alleged to be held by Karti.
Why were shares purchased at a premium by Dwarakanathan and sell it at a loss?
The ED will probe into this angle and see if this deal helped VCPHL grow leaps and bounds, the ED will also look to find out.