Movable assets of P Chidambaram increased by Rs 92.5 crore in 2016-22

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In 2016, Chidambaram had shown moveable assets worth Rs 42.95 crore and in 2022, the total moveable assets were Rs 135,45,11,409.

Chidambaram showed that he borrowed Rs 76,46,964 from his son and Congressman of Sivaganga Karti P Chidambaram

Movable assets of Congress leader P Chidambaram saw a net increase of Rs 92.49 crore between 2016 and 2022, according to the affidavit he filed upon his nomination for the Rajya Sabha elections.

The former Union Finance Minister filed his candidacy in Chennai on Monday and his movable assets include bank deposits, equity investments, insurance and other financial institutions, vehicles, jewelry, etc. increased by 200%.

In 2016, Chidambaram had shown moveable assets worth Rs 42.95 crore and in 2022, the total moveable assets were Rs 135,45,11,409.

A comparison of the two affidavits shows that Chidambaram showed new investments made in ANC Trust Investments, Shri Ram Transport Finance Corporation, Shri Ram City Union Finance, Sundaram Finance and Sundaram Home Finance.

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In ANC Trust Investment, Chidambaram showed investment of Rs 67.46 crore, in ShriRam Transport Finance Corporation investment is Rs 21.50 crore, in ShriRam City Union Finance investment is Rs 5 crore, in Sundaram Finance and Sundaram Home Finance, an investment of Rs 10 crore each.

The former Union finance minister showed new bank accounts at Bank of Baroda, Indian Overseas Bank and Stanchart. Thus, the net increase in investments is Rs 92.49 crore.

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The former minister acquired a new Toyota Camry vehicle and also has 32 grams of gold jewelry and 3.25 carats of diamonds. Due to the new investments in the above finance companies, the total movable assets of Chidambaram in the 2022 affidavit is Rs 135,45,11,409 against Rs 42.95 crore.

Chidambaram showed real estate worth Rs 5.83 crore in the 2022 affidavit against Rs 4.25 crore shown in the 2016 affidavit.

As for the liability, Chidambaram showed that he borrowed Rs 76,46,964 from his son and Congressman of Sivaganga, Karti P Chidambaram. His wife borrowed Rs 5 crore from him and the Hindu Undivided Family (HUF) account also borrowed Rs 74,34,202 from him.

The former Union minister showed that the income tax cases for the tax years 2009-10 and 2010-11 are pending in the Madras High Court.

Similarly, Chidambaram has cases pending before the Directorate of Enforcement (ED) and the CBI. Cases have been filed by ED in INX media and a charge sheet has been filed. Similarly, an indictment has been filed in a case brought by the CBI under the Prevention of Corruption Act 1988.

In all of the cases filed by ED and CBI, indictments have been filed, but no court has convicted Chidambaram in any of the cases filed against him, according to the affidavit.

Former AIADMK Minister C Ve Shanmugam also submitted a candidacy on Monday. Shanmugam lost election to Villupuram assembly. A comparison of his affidavits filed in 2021 and 2022 shows that his moveable assets have dwindled in the past year.

While in 2021 his movable property was worth Rs 12.08 lakh, in 2022 the movable property was worth Rs 8.76 lakh. The property value has not changed in the last year and it is the same at Rs 17.85 lakh.

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