He represented the bankrupt American energy giant Enron, as a senior lawyer in India, and is again set to revive its Dhabol power project.[
He resigned on 10 July 1992 from minister position owning moral responsibility for investing in Fairgrowth, a company allegedly involved in securities scam
In 1997, he announced a controversial voluntary disclosure of income scheme which granted income-tax defaulters indefinite immunity from prosecution under the Foreign Exchange Regulation Act, 1973, the Income Tax Act, 1961, the Wealth Tax Act, 1957, and the Companies Act, 1956 in exchange for self-valuation and disclosure of income and assets. [9] The Comptroller and Auditor General of India condemned the scheme his report as abusive and a fraud on the genuine taxpayers of the country. [
It should be noted that Chidambaram also represented the controversial British mining conglomerate Vedanta Resources in the Bombay High Court until 2003 when he became the finance minister of India. He was also a member of the board of directors of that company.[11
In August 2006 the then President A.P.J. Abdul Kalam gave permission to enquire into the allegations that Prime Minister Manmohan Singh and his Finance Minister P. Chidambaram had been holding office of profit at the time of elections. It has been alleged that they both had been the board members of Rajiv Gandhi Trust Foundation. The Election Commission will enquire into the allegations.[12]
In February 2008, he announced a $15 billion farm loan waiver scheme triggering a public interest litigation.[13][14
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