INX Media case: CBI arrests Karti Chidambaram

The CBI today arrested Karti Chidambaram, son of former Finance Minister P Chidambaram, in connection with its probe in the INX media case, officials here said.

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The Central Bureau of Investigation official said that he was arrested from the Chennai airport after he returned from London. He will be brought to Delhi later in the day.

Meanwhile Congress leader, Randeep Surjewala, lashed out at the Modi government for pursuing vendetta politics. He also said that the Congress will continue to fight for truth.

An FIR filed by the CBI on May 15 last year had alleged irregularities in the FIPB clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when Chidambaram was the Union finance minister. It is alleged Karti had received funds to the tune of Rs 10 lakh in the case, they said.

The FIR does not mention Chidambaram senior, though it said he cleared the FIPB approval for Rs 4.62 crore Foreign Direct Investment in the firm at an FIPB meeting on May 18, 2007.

The agency is investigating the junior Chidambaram’s role in facilitating the FIPB clearance for INX Media when his father was the Finance Minister.

Karti Chidambaram is alleged to have received Rs 3.5 crore from the Mumbai-based INX Media, now 9X Media, for helping it get the clearance. It was then run by Peter Mukerjea and Indrani Mukerjea.

The ED has also registered a money laundering case.

The CBI is also probing the alleged irregularities in grant of the FIPB clearance to the Aircel-Maxis deal in 2006.  | Business standard

 

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