INX Media Case: Delhi HC grants respite to Karti Chidambaram

New Delhi, March 9: In a major respite for Karti Chidambaram the Delhi HC today granted him temporary relief by directing ED not to hold the former in custody until March 20, the next date of hearing.

The Court also stated that the interim protection against arrest will only hold good till the next date of hearing. The matter will now be heard on March 20.

Karti was held on Feb 28 at Chennai by the CBI in connection with the INX Media Case, when he returned from the United Kingdom. In November, the Supreme Court allowed Karti Chidambaram to go to the UK for his daughter's admission in the Cambridge University.

The CBI had filed an FIR in the matter on May 15 last year alleging 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. The CBI has also alleged that Karti had received funds to the tune of Rs 10 lakh in the case.

According to the CBI, INX Media clearly states in its records that Rs 10 lakh was given to Advantage Strategic Consulting (P) Limited, a firm indirectly owned by Karti, for management consultancy charged towards FIPB notification and clarification.

Besides the central probe agency, the Enforcement Directorate 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.