A Delhi High Court on Tuesday extended protection from arrest for former Union minister P. Chidambaram and his son Karti. The Court extended the protection from arrest till the 7th of August in the Aircel-Maxis money laundering case.
On the 30th of May Chidambaram moved the Court seeking protection from arrest in the money laundering case. The move was made on the basis of all the evidence against the father and son are purely documentary in nature. Further stating the Government was in possession of everything required to investigate the case.
Chidambaram is accused of approving a grant of Foreign Investment Promotion Board clearance for the company M/s Global Communication Holding Services Ltd. The company was further used to invest in Aircel.
Earlier in June, the former union finance minister was questioned for 6 hours by the ED. Chidambaram’s statement was recorded under the Prevention of Money and Laundering Act (PMLA.)
His son Karti has been accused in two cases one by the CBI and the other investigated by the ED. 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.
