ED charges Nalini Chidambaram in Saradha scam

The ED chargesheet alleged, “Between 11.06.2010 to 17.06.2012, a total of Rs 1.489 crores was paid by Saradha Group to Nalini Chidambaram. Out of this, after deducting Rs 15 lakh as TDS, Rs 1.349 crores reached Nalini Chidambaram's account. There was no agreement entered between Saradha Sudipta Sen and Nalini Chidambaram which obliged Sudipta Sen to pay this amount.”

It also stated that Mrs Chidambaram “claimed that the funds received by her from Saradha Group were her fees paid by Saradha Group on behalf of Manoranjana Sinh and for drafting the MOU and agreements etc., but Smt. Nalini Chidambaram, a Tax Consultant & Lawyer, did not raise any bill or invoice invoice either to Smt. Manoranjana Sinh or to Sudipta Sen or on their companies as a proof to support her claim and there is no document or record to establish why the said amounts were paid by Shri Sudipta Sen, through, Saradha Group to Smt. Nalini Chidambaram.”

According to the ED, “PMLA investigation has established that the amount of Rs 1.349 crores received by Nalini Chidambaram from Saradha was received as a consideration for Nalini's help to Saradha Group in managing SEBI's inquiry. The amount she received as consideration was illegally obtained by Saradha through its unauthorized and fraudulent CIS schemes. The said amount was thus directly out of criminal activity relating to Scheduled offence and is Proceeds of Crime as defined in Section 2(1)(u) of PMLA. Smt Nalini Chidambaram knowingly acquired the Proceeds of Crime from Saradha Group and projected the same as untainted under the garb of her professional fees for her services to Manoranjana Sinh in Company Law Board. Smt Nalini Chidambaram knowingly assisted Sudipta Sen in concealment of Proceeds of Crime acquired by Saradha Group and projecting the same as untainted property. She has thus, committed the offence of Money Laundering under Section 3 of PMLA.”