The Enforcement Directorate (ED) has issued a show cause notice to Karti Chidambaram, son of senior Congress leader P Chidamabarm, and a firm purportedly linked to him for alleged violation of FEMA to the tune of Rs 45 crore.

The Chennai zonal office of the agency also issued a similar notice in the case to Chennai-based Ms Vasan Health Care Private Limited for alleged forex violation of Rs 2,262 crore.

"The total amount of contravention identified on different counts and found to have been committed by Ms Advantage Strategic Consulting Private Limited in the sale transaction of shares of Vasan Health Care to overseas investors is around Rs 45 crore.

"A show cause notice has been issued to Ms Advantage Strategic Consulting Private Limited, its directors and also to Karti P Chidambaram who appears to be the controller and ultimate beneficiary in these transactions," the ED said in a statement.

A file photo of Karti Chidambaram | Source: PTI

The total amount of contravention identified by the ED, under the provisions of the Foreign Exchange Management Act (FEMA), by Vasan Healthcare and its overseas investors on different counts in the investments received from overseas investors is Rs 2,262 crore, the central probe agency said.

"A show cause notice has been issued to Ms Vasan Health Care Private Limited, its promoter Director Arun, his wife, Dwarakanathan (the director's father-in-law) and also to the overseas investors for the alleged contraventions," the ED said.

(Feature Image Source: PTI)