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INX Media case: CBI takes Karti Chidambaram to Mumbai for further investigation

Karti Chidambaram

New Delhi: Senior Congress leader P Chidambaram’s son Karti Chidambaram, arrested last week on charges of corruption, was taken to Mumbai this morning by the CBI for further questioning. Karti Chidambaram, 46, is accused of facilitating, for a bribe, foreign investment approvals for television company INX Media, when his father was union finance minister.

The arrest was made in connection with an FIR lodged on May 15 last year, alleging irregularities in the Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007.

To wriggle out of the situation without any punitive action, INX Media entered into a criminal conspiracy with Karti.

The FIPB unit of the finance ministry had not only granted illegal approval but also misinformed the investigation wing of the Income Tax Department.

Karti’s Chartered Accountant S Bhaskararaman, also arrested in the same case, to stay in jail till March 7, as a Delhi court on Thursday reserved its order on the former’s bail plea. The CA was sent to the jail on February 26 on expiry of his custodial interrogation by the ED, which had arrested him on February 16 from a five-star hotel in New Delhi.

As per investigating officials, Peter and Indrani Mukerjea, the directors of INX Media Limited previously alleged that they paid USD 7 lakh to Karti on the instructions of his father P Chidambaram for an FIPB clearance.

The statements of the Mukerjeas were recorded by the Enforcement Directorate (ED), which is probing the money laundering angle in the case, while the CBI had only recorded Indrani’s statement before a magistrate as per section 164 of the CrPC.

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