CBI arrests Karti Chidambaram in connection with INX Media money laundering case

Chennai, February 28: The Central Bureau of Investigation (CBI) arrested Congress leader Karti Chidambaram who is a son of former Finance Minister P Chidambaram on Wednesday from Chennai Airport in connection with INX Media money laundering case.

 

INX Media is accused of violating the Foreign Investment Promotion Board (FIPB) norms and bringing in more foreign direct investment than what the company was allowed to. On the other side, Karti is accused of having illegally taken a huge amount for getting the FIPB clearance to the INX Media for receiving funds from abroad worth Rs 305 crore in the year 2007.

Notably, Karti Chidambaram was arrested by the CBI for not cooperating in the investigation of the INX media money laundering case from Chennai Airport after he returned from London. The CBI has also started interrogating Karti Chidambaram in relation with his involvement in the INX Media case.

The other prime suspects in the INX Media case are Peter Mukherjea and Indrani Mukherjea who were the directors of the company. In the last week, Supreme Court refused to stay a summon order issued by the ED against Karti Chidambaram in the INX Media money laundering case, after the CBI said he was not a common criminal but his plea for quashing the notice was a guise for an anticipatory bail plea.

On Monday this week, Delhi’ court had sent Karti Chidambaram’s chartered accountant S Bhaskaran to 14-days judicial custody in connection with the INX Media money laundering case. The ED had registered a case against him and others in May last year.