CBI who is investigating Karti Chidambaram’s role in the INX Media Money laundering case had said that he managed to get a clearance from Foreign Investment Promotion Board (FIPB) during the tenure of his father as a Finance Minister.
Karti Chidambaram, son of former Finance Minister P. Chidambaram has been arrested by CBI officials on Wednesday morning. Karti was arrested at Chennai airport. Reportedly, he has been arrested in connection with the INX Media money laundering case in which he is one of the accused. According to the CBI sources, the arrest came after his alleged ‘non-cooperation’, in the investigation.
#FLASH Karti Chidambaram taken into custody by CBI at Chennai Airport over INX media case. pic.twitter.com/91WjX5fQ80
— ANI (@ANI) February 28, 2018
The development comes a day after a Delhi court sent S Bhaskararaman- Karti Chidambaram’s CA to 14 days judicial custody in the same case.
CBI who is investigating Karti Chidambaram’s role in the INX Media Money laundering case had said that he managed to get a clearance from Foreign Investment Promotion Board (FIPB) during the tenure of his father as a Finance Minister. The CBI also accused him of using his influence to manipulate a tax investigation and in exchange received Rs 10 lakh from INX Media.
Enforcement Directorate, who is also probing the case had earlier grilled Karti in connection with the money laundering case. It had alleged that INX Media had deliberately violated the FIPB rules and regulations and made a downstream investment of 26 percent in the capital of INX News Pvt Ltd. It also received several foreign direct investments without the approval of FIPB.
ED further alleged that during P Chidambaram’s tenure as Finance Minister, the FIPB unit gave a nod to this illegal approval and also presented wrong information to the income tax officials.
The CBI now headed by Alok Verma has lived up to his reputation of being independent
— Subramanian Swamy (@Swamy39) February 28, 2018
Congress, however, called it just another diversionary tactic of Modi government. Sanjaya Jha, the party spokesperson said, “The Modi government has deployed its classic diversionary tactic to shift the focus from corruption cases under his nose.”
Classical diversionary tactic to hide Scams & Colossal Corruption that is being exposed on a daily basis,be it NiMo+Choksi,D.D.Jewellers and Rotomac.
Modi Govt continues it's vendetta against Sh. P. Chidambaram. Won’t deter the Congress from bringing the truth to the people.— Randeep Singh Surjewala (@rssurjewala) February 28, 2018
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