Over the past eleven years, the junior Chidambaram has built up a record of financial success that would give Warren Buffett pause...
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several who are seen as being part of the “Chidambaram Clique” have retained important responsibilities during the present NDA dispensation, and indeed have been promoted to much higher posts.
Doing the bidding of the minister who set the CBI against the IB in the Sohrabuddin case, & who sought to establish the existence of a "Hindu terror" network across the country, does not seem to have adversely affected the careers of Chidambaram loyalists in BJP-ruled government.
A Lutyens favourite, Rajan is accused by former colleagues in the RBI of having tipped off the former Finance Minister about queries made to them by the Enforcement Directorate on the Aircel-Maxis case.
As for SEBI, P Chidambaram was seen by officials as succeeding in having his own man in charge of that organisation, such as C.B. Bhave, who was appointed to the post despite having that very agency investigating him at that time in matters connected with NSDL.
Thus far, the former Union Finance Minister has led a charmed life, although there have been scattered accusations, including of allegedly standing by, especially during 1996-97, as poppy growers grew more than they needed, the balance getting sold to the narcotics trade.
Interestingly, the lawyer chosen by many clients involved in narcotics-related cases to represent them was Nalini Chidambaram, the wife of P. Chidambaram, who is known as a highly capable advocate who gets good results for her clients.
Earlier, the senior Chidambaram’s associates were accused of having taken over land at a throwaway value in a coastal area near Chennai, land that belonged to poor fishermen. This was allegedly “facilitated” by the then Revenue Secy to the Tamil Nadu government, Saktikanta Das.
Krishnan & Abhishek, are regarded by their peers as having been active in taking steps that resulted in downfall of an exchange that was competing with NSE,but this is again a charge that seems to have evoked little interest within agencies even after the NDA came to power. #NSEL
No enquiry seems to have been conducted by the present government into exactly which bank directors or politicians recommended big loans during the UPA period, advances that went bust, including those to Kingfisher Airlines.
Several nationalised bank chairpersons were known to be favourites of the former Union Finance Minister, including Canara Bank Chairman M.B.N. Rao, State Bank of India Chairman O.P. Bhat and Yogesh Aggarwal of IDBI.
P Chidambaram has had the good fortune of having several at the top of the LIC being close to him, such as T.S. Vijayan, who subsequently became Chairman of IRDA. LIC invests heavily in the stock market, entirely coincidentally a favourite playground of Karti and his associates.
Given Chidambaram’s record of assisting friends and annihilating foes, both sets of individuals will be watching the immediate fortunes of this urbane and ruthless politician from the South with unwavering attention.
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