INX media case: Karti Chidambaram appears before CBI for questioning

Henrietta Strickland
August 23, 2017

The Madras High Court has ordered the return of documents pertaining to a writ petition back to Karti, son of former Union Finance Minister P Chidambaram and asked him to approach the High Court in Delhi, which has superintending power over the issue involved in the case.

Earlier, Karti submitted before the apex court bench that he is willing to appear before the CBI in the case.

Karti arrived at the CBI headquarters in Delhi on Wednesday morning where officers from the investigating agency will question him in the matter.

The FIR, lodged by CBI on May 15, had alleged irregularities in Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when Karti's father was the Finance Minister.

However, the top court will later decide whether the look out notice to be quashed or not. The agency had issued summons to Karti and four others for questioning on June 27 and June 29.

The agency alleges that in 2007, INX Media had got an approval from the Foreign Investment Promotion Board (FIPB) for ₹4.62 crore investment, but it received ₹305 crore from two Mauritius-based companies by sale of shares at a premium of ₹800 per unit.

The CBI had claimed that the FDI proposal of the media house, cleared by Chidambaram, was "fallacious".

Karti had earlier accused the CBI of hatching a conspiracy against him, citing frustration arising out of their inability to prove anything against them, in connection with the Aircel-Maxis case.

In May, the CBI had conducted raids at the premises of Karti, Peter and Indrani at 14 locations in Delhi, Mumbai, and Chennai in connection with the case.

Heading inside the building with his team, Karti said, "My petition in court speaks for itself".

Other reports by Click Lancashire

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