Son of former Finance Minister P. Chidambaram, Karti Chidambaram appeared before the Enforcement Directorate in connection with INX Media case. Karti was summoned by the agency.
The Enforcement Directorate has questioned Karti on several occasions in the case which is being probed by the agency and the Central Bureau of Investigation. Both are probing how the Foreign Investment Promotion Board, FIPB, gave clearance to foreign investment in INX Media in 2007 when P.Chidambaram was the Finance Minister.
The ED had registered a PMLA case based on a CBI FIR and alleged that irregularities took place in the FIPB clearance to INX Media for receiving overseas funds to the tune of 305 crore rupees. The agency has also questioned P Chidambaram twice in the case for giving FIPB clearance to the INX group.
On February last year, Karti was arrested by the CBI for allegedly accepting money to facilitate the FIPB clearance to INX Media. He was later granted bail. The ED has attached properties worth 54 crore rupees belonging to Karti and a firm in the case.
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