The agency on Thursday issued fresh summons to Karti in a money laundering case related to alleged irregularities in getting foreign investment for INX Media in 2007.
"There are obviously no proceeds of crime and the ED has no jurisdiction under the Prevention of Money Laundering Act (PMLA)", he added. "The property in Jor Bagh is jointly owned by Karti Chidambaram and (his mother) Nalini Chidambaram".
ED had provided information about the alleged illegal payments made by INX Media and consequentially Central Bureau of Investigation (CBI) had registered FIR.
The ED conducted raids in Delhi and Chennai since early morning after similar searches on the premises of a relative of Karti on December 1, 2017.
He also said this was not an enquiry but just a raid, and kept emphasising that nothing was found or seized. "The raid concluded at 10:45 am", Karti's lawyer Arun Natrajan told media in Chennai. The raids were conducted in connection with a money laundering case.
The Congress, too, was critical of the action against its senior leader and termed the ED raids "a malicious vendetta" by PM Narendra Modi and his government against senior Congress leaders.
The FIR registered by CBI against Karti Chidambaram included that Rs 3.5 crore was paid by INX Media which is promoted by Peter Mukerjea and Indrani to the companies directly and indirectly under Karti's control to influence Foreign Investment Promotion Board decision. Karti Chidambaram is accused of facilitating bribes in the Aircel-Maxis transaction. The agency said FIPB approval was granted in March, 2006 by the then FM even though he was competent to accord approval on project proposals only up to Rs 600 crore and beyond that it required the approval of the Cabinet Committee on Economic Affairs (CCEA).