Ashish Ranjan
INX Media case: In the INX Media money laundering case, the Enforcement Directorate announced on Tuesday that it has seized four properties worth Rs 11,04 crore belonging to Congress MP Karti Chidambaram.According to the agency, one of the affixed properties is an immovable asset located in the Coorg district of Karnataka.
The case involves alleged irregularities in the authorization of the Foreign Investment Promotion Board’s Foreign Direct Investment to INX Media in 2007 when P Chidambaram, the father of Karti Chidambaram, was Union finance minister. The Federal Bureau of Investigation filed a First Information Report on May 15, 2016.
The complaint alleged that Karti Chidambaram interfered with the Foreign Investment Promotion Board’s process to approve INX Media’s application by using his father’s influence. INX Media allegedly compensated him with Rs 10 lakh for his interference. The CBI has also accused INX Media of bribing Karti Chidambaram to thwart an investigation into tax evasion.
In May 2017, the Enforcement Directorate filed a money laundering case against Karti Chidambaram, INX Media, and its directors based on the CBI’s FIR.
The CBI apprehended P Chidambaram in August of 2019. In October of that year, the Supreme Court granted him bail. In June of 2020, the Supreme Court denied the CBI’s petition to review Chidambaram’s release on bail.In the INX Media money laundering case, the Enforcement Directorate announced on Tuesday that it has seized four properties worth Rs 11,04 crore belonging to Congress MP Karti Chidambaram.
According to the agency, one of the affixed properties is an immovable asset located in the Coorg district of Karnataka.The case involves alleged irregularities in the authorization of the Foreign Investment Promotion Board’s Foreign Direct Investment to INX Media in 2007 when P Chidambaram, the father of Karti Chidambaram, was Union finance minister. The Federal Bureau of Investigation filed a First Information Report on May 15, 2016.
The complaint alleged that Karti Chidambaram interfered with the Foreign Investment Promotion Board’s process to approve INX Media’s application by using his father’s influence. INX Media allegedly compensated him with Rs 10 lakh for his interference. The CBI has also accused INX Media of bribing Karti Chidambaram to thwart an investigation into tax evasion.
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In May 2017, the Enforcement Directorate filed a money laundering case against Karti Chidambaram, INX Media, and its directors based on the CBI’s FIR.The CBI apprehended P Chidambaram in August of 2019. In October of that year, the Supreme Court granted him bail. In June of 2020, the Supreme Court denied the CBI’s petition to review Chidambaram’s release on bail.
