On Thursday, the CBI produced Karti Chidambaram before the Delhi Court in connection to the INX Media case. The CBI asked the Court for an extension of 14 days custody of Karti from one day which expired today.
Mr. Karti was produced in front of Special Judge Sunil Rana. Nalini Chidambaram a senior advocate and Mr. Karti mother was part of his team of advocates. Leading the team for Karti was Senior Advocate Abhishek Manu Singhvi.
On Wednesday, the CBI requested 15 days custody of Mr.Karti but the Court rejected the plea and approved only one day. The Court has also stayed Karti’s bail plea and stated he will remain in jail till the 7th of March.
In May last year, the Enforcement Directorate (ED) filed a case against Karti Chidambaram. The case relates to irregularities in the Foreign Investment Promotion Board (FIPB) fund released to INX Media. The CBI alleges Karti took a bribe of Rs. 10 lakhs to use his influence to gain investment for INX Media from Mauritius.
The investment received sums up to Rs. 300 crores in 2007 when Karti’s father was union finance minister. The CBI raided Karti’s houses and offices in four states. However, both the Chidambarams have denied these allegations calling it a political vendetta.
