P Chidambaram’s moveable assets rose by Rs 92.5 crore in 2016-22

Senior Congress leader P Chidambaram’s moveable assets saw a net increase of Rs 92.49 crore between 2016 and 2022 as per the affidavit filed by him during his nomination for the Rajya Sabha elections.

The former Union finance minister filed his nomination in Chennai on Monday and his moveable assets include bank deposits, investments in shares, insurance and other financial institutions, vehicles, jewelleries etc have increased by 200 per cent.

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 has shown new investments made in ANC Trust Investments, Shri Ram Transport Finance Corporation, Shri Ram City Union Finance, Sundaram Finance and Sundaram Home Finance.

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

The former Union finance minister has shown new bank accounts in 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 has acquired a new Toyota Camry vehicle and also owns 32 grams of gold jewellery and 3.25 carat of diamonds. Due to the new investments in the above finance companies, Chidambaram’s total moveable assets in the 2022 affidavit are Rs 135,45,11,409 against Rs 42.95 crore.

Chidambaram showed immovable property worth Rs 5.83 crore in the 2022 affidavit against Rs 4.25 crore shown in the 2016 affidavit.

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

The former Union minister has shown that Income Tax cases for the assessment years 2009-10 and 2010-11 are pending before the Madras High Court.

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

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

Former AIADMK minister C Ve Shanmugam also filed nomination on Monday. Shanmugam lost the assembly election contesting from Villupuram. A comparison of his affidavits filed in 2021 and 2022 shows his moveable assets have declined last year.

While in 2021, his moveable assets were worth Rs 12.08 lakh, in 2022, the moveable assets are worth Rs 8.76 lakh. The value of immovable assets has not changed in the last one year and it is the same at Rs 17.85 lakh.

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