Chidambaram said Karti was being “targeted only because he is my son” and that the real target was he himself. Former Union minister P Chidambaram has on Sunday challenged both the AIADMK-led Tamil Nadu government and the Central government led by the BJP to unearth any undisclosed assets of his son Karti Chidambaram.

"A few days ago, a news report was published containing wild and reckless allegations against my son, Karti Chidambaram, and by implication against me. It was obvious to everyone that it was a planted story," said the former minister in a statement. "I have nothing but pity for those who make these false accusations. Ultimately, the truth will prevail," Chidambaram stated.

“Karti runs a legitimate business, apart from managing inherited property. He has been an income tax assessee for many years. He has duly and regularly filed his income tax return, including a statement of assets and liabilities, every year. The assessments have been completed upto AY 2013-14 by the Income-Tax department,” Chidambaram said.

“All his assets and liabilities have been duly disclosed in his tax returns. He has no undisclosed asset anywhere. He and his business are fully compliant with the laws and regulations of the Income-Tax department and of all other regulatory authorities concerned. The allegation that he has undisclosed assets is preposterous, malicious and totally false,” he said.

"He has been an income tax assessee for many years. He has duly and regularly filed his income tax return, including a statement of assets and liabilities, every year. The assessments have been completed upto AY 2013-14 by the Income-tax department," he added.

“If the government is of the view that Mr Karti Chidambaram has undisclosed assets, I would ask the government to make a list of such alleged undisclosed assets. Mr Karti Chidambaram will voluntarily execute any document necessary to transfer those assets (allegedly undisclosed) to the government for a nominal consideration of Rupee 1. Let the government become the owner of the alleged undisclosed assets,” Chidambaram said.

“I am issuing this statement on behalf of all the members of my family. We know that Karti is being targeted only because he is my son and the real target is me. I understand the political motive behind the accusations and the timing of the story,” he said.

By Premji