The Supreme Court (SC) today told the Madras high court (HC) that its division bench has to decide within two months on the merits of the ‘look out circular (LOC) issued last year against Karti Chidambaram in a corruption case.
The SC is hearing a CBI plea challenging the Madras high court order staying the LOC against Karti, son of former finance minister P. Chidambaram. LOCs were issued against him on June 16 and July 18 last year.
The Madras HC stayed the LOC last year on August 10. The SC put the Madras High Court’s stay on hold on August 14 last year, on an appeal by the CBI.
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The SC also told the Madras HC that it has to adjudicate on the CBI’s stand that it (Madras HC) has no territorial jurisdiction to hear the case.
The CBI issued the lookout circular to bar Karti from traveling abroad as he is facing a probe in connection with alleged irregularities in the grant of FIPB clearance to INX Media Ltd. Chidambaram was then the Union finance minister.
In its plea to the SC, the CBI contended that the Madras High Court had no territorial jurisdiction to entertain the plea and stay the lookout circular.
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