INX Media Case: CBI To Question P. Chidambaram

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INX Media Case: CBI To Question P. Chidambaram

The Delhi Court extended Karti Chidambaram’s stay in police custody to 5 days yesterday. The CBI plans to question Karti’s father P. Chidambaram in connection with the INX Media bribery case.    

A senior CBI official heading the probe said, “Former finance minister P. Chidambaram will be summoned to the agency headquarters here and questioned soon. Although he is not named as an accused, his role in the grant of irregular FIPB (Foreign Investment Promotion Board) clearance to INX Media is part of the FIR.”

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 has managed to find Karti’ money trail in accounts in Spain and Greece. The authorities also seized three mobile phones from his premises last year.

Former Finance Minister P. Chidambaram has stood by his son and continues to state they are innocent.