Former union finance minister and senior Congress leader P.Chidamabram was arrested by Central Bureau of Investigation (CBI) on INX Media Scam case. The central agency arrested the veteran Congress leader based on the statement given by Indrani Mukharjee and her husband Peter Mukharjee, the owners of INX Media.
Indrani Mukharjee gave this statement on February 17, 2018. This statement is now a part of the court document.
The couple had given a statement to the Central Bureau of Investigation and Enforcement Directorate (ED) that they had met P.Chidamabram in his office in North Block in 2006. He was the finance minister then. He asked them to meet Karti, his son and to help him. And Karti has asked a bribe of $.1 million. This statement was key evidence against Chidambaram and Karti.
The couple and Karti worked out a plan. As per which Mukharjee engaged Karti Chidambaram’s company Advantage Strategic Consulting Pvt Ltd (ASCPL). As part of the alleged quid pro quo, ASCPL and its associated companies around this time raised four invoices for $.700,00 on Media and were reimbursed. Soon the Foreign Investment Promotion Board (FIPB) gave its approval to fix the irregularities.
The INX media breached the condition on which it had been allowed by FIPB to raise 46% equity through the issue of shares. The permission was given to raise 4.62 crores. But the company raised Rs.305 crore by issuing shares at a premium. The company also bypassed the FIPB to make 26% downstream investment in the INX News Private Limited.
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