Karti Chidambaram Arrested: All You Need to Know About The INX Media Case

 
Karti Chidambaram Arrested: All You Need to Know About The INX Media Case

 

NEW DELHI:  In a money laundering case, the Central Bureau of Investigation or the CBI has arrested Karti Chidambaram, son of former finance minister P Chidambaram. The CBI investigating officer has said Karti Chidambaram will be brought to Delhi today and produced in a court. The investigating officer alleged that the agency arrested Karti, after more evidence was found against him taking bribe and a bigger amount of money changing hands. The Congress has claimed Karti's arrest is a "classic case of diversionary tactics...in last 10 days scams worth more than Rs. 30,000 crore have been unearthed but the Prime Minister is silent; the party will not be deterred by unleashing of vendetta"
Here are key points of the INX case details
The Enforcement Directorate has alleged that Karti Chidambaram is involved in the case, which relates to Foreign Investment Promotion Board (FIPB) clearance given to INX media.
ED has alleged that approval was granted in 2007, for receipt of funds by INX Media, during the tenure of P Chidambaram as finance minister.
ED has alleged that INX Media violated terms of conditions of the approval; made an investment of 26 per cent in INX News Pvt Ltd.
It included indirect foreign investment and generated Rs. 305 crore FDI; and to escape legal action, INX Media entered into a criminal conspiracy with Karti Chidambaram, the ED claims.
CBI says INX media, in its records, said that Rs. 10 lakh was given to Advantage Strategic Consulting (P) Limited, which the investigating agency claims, was indirectly owned by Karti. The Chidambarams have denied all allegations.

Source: (ndtv.com)