New Delhi, March 6 (IANS): Former Finance Minister P. Chidambaram said on Sunday that he was the real target of the "preposterous, malicious and totally false" allegations of undisclosed assets levelled against his son Karti.

In a statement here, Chidambaram referred to a news report and said it contained "wild and reckless allegations" against his son "and by implication against me". He said "it was obvious to everyone that it was a planted story".

The senior Congress leader said if the Narendra Modi government was of the view that Karti held undisclosed assets, he would transfer them to the government for a token amount of one rupee.

"I ask the government to make a list of the alleged undisclosed assets. Karti Chidambaram will voluntarily execute any document necessary to transfer those assets to the government for a nominal consideration of Re.1. Let the government become the owner of those assets," he said.

Chidambaram said Karti ran a legitimate business, apart from managing inherited property, and has been an income tax assesse for many years and duly disclosed all assets and liabilities.

"He has duly and regularly filed his income tax returns, including a statement of assets and liabilities, every year. The assessments have been completed up to assessment year 2013-14 by the Income Tax Department," the Congress leader said.

"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," Chidambaram said.

The Congress leader said he was issuing this statement on behalf of all members of his 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. I have nothing but pity for those who make these accusations. Ultimately, truth will prevail," he said.

AIADMK members had raised the issue of the Aircel-Maxis deal in parliament and had levelled accusations against Karti.

Finance Minister Arun Jaitley had told the Lok Sabha that different agencies had obtained some information while probing the 2G and Aircel-Maxis cases and the government had "no holy cows to protect" and that action will be taken against the guilty.