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Published On: Wed, Feb 28th, 2018

INX Media case: CBI arrests Karti Chidambaram at Chennai airport

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xkarti-chidambaram-new1-09-1507540559.jpg.pagespeed.ic.fSaYnBbQhMCHENNAI/ NEW DELHI : The Central Bureau of Investigation (CBI) on Wednesday arrested Karti Chidambaram, the son of former Union Finance Minister P Chidambaram, in Chennai in connection with the alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance in the INX Media case.

The officials are bringing Karthi to Delhi to make him appear before a CBI court. Karti was arrested at Chennai airport at around 8:00 am when he returned from the United Kingdom. The Opposition has called the arrest as “political vendetta”.

A CBI official said the team from Delhi interrogated Mr. Karti in connection with the INX Media case and took him into custody. He was taken to an undisclosed location for further questioning.

According to Karti Chidambaram’s PRO, he was detained at the Chennai Airport. The CBI team, along with Karti Chidambaram, has left for Delhi from Chennai. The case relates to the approval given by the Foreign Investment Promotion Board (FIPB) for the receipt of funds by INX Media which took place while Karti’s father, P Chidambaram, was the Union finance minister.

CBI has alleged that the Foreign Exchange Management Act (Fema) was violated. The Chidambarams, however, have denied all charges made against them.
On May 15, 2017, the CBI had registered an FIR against Karti Chidambaram on charges of criminal conspiracy, cheating, accepting gratification by corrupt or illegal means, influencing public servants and criminal misconduct.

The FIR had alleged irregularities in the FIPB clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007. Also named in the CBI FIR were INX Media and its directors, Peter and Indrani Mukerjea — both accused in the murder of Sheena Bora — and others.
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, reported news agency IANS.
The CBI is also probing the alleged irregularities in grant of the FIPB clearance to the Aircel-Maxis deal in 2006. The Congress party termed the arrest a “diversionary tactic” of the Narendra Modi government to hide its “corrupt governance model”.

The Dravida Munnetra Kazhagam (DMK), meanwhile, described the arrest as political. “Law will take its own course,” says Communist Party of India leader D Raja.

In May 2017, the CBI registered a case against Mr. Karti; M/s INX Media (P) Ltd., represented by its then directors Indrani Mukerjea and Pritam Mukerjea alias Peter Mukerjea; Chess Management Services (represented through its director Mr. Karti); Advantage Strategic Consultancy (P) Ltd., represented through its director Padma Vishwanathan and others; besides unknown officials in the Ministry of Finance on charges of criminal conspiracy, cheating and corruption.
The CBI had accused Mr. Karti of having received commissions through companies such as Chess Management and ASC to scuttle a probe by the Department of Revenue into the allegations of financial irregularities. The Enforcement Directorate recently  arrested S. Bhaskararaman, Mr. Karti’s chartered accountant, for allegedly not cooperating in its probe. (With Agency Inputs ).



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