CBI arrests Karti Chidambaram in INX media case

It is alleged that Karti allegedly helped in getting approval from FIPB by taking Rs 3.5 crore from Mumbai based INX Media.

New Delhi: CBI arrested Karti Chidambaram, son of former Union Finance Minister P. Chidambaram on Wednesday in the INX media case. A CBI official said that he was arrested from the Chennai airport. He had returned from London. They will be brought to Delhi today. Officials gave this information.

The CBI had filed an FIR against Karti Chidambaram on 15th May, 2017 under the charges of criminal conspiracy, fraud, illegal means, affecting government employees. FIIs have alleged that during P. Chidambaram's central finance minister in 2007, there were alleged irregularities in getting the FIPB approval to receive INR 305 crores of rupees from abroad.

It is alleged that Karti allegedly helped in getting approval from FIPB by taking Rs 3.5 crore from Mumbai based INX Media. At that time his father P. Chidambaram was the finance minister. The name of the INX media has changed to 9 x now. At that time Peter Mukherjee and Indrani Mukherjee used to operate it. Both are accused in the Sheena Bora massacre Enforcement Directorate (ED) has also filed a case of money laundering in this regard.

However, P. Chidambaram's name is not mentioned in this FIR but it is alleged that he had approved foreign investment of Rs 4.62 crore in the company (INX Media) in a meeting of FIPB on May 18, 2007.

He said that it is alleged that Karti got Rs 10 lakh in the case. The CBI is also investigating alleged irregularities in approving FIPB approval in the 2006 Aircel-Maxim agreement.