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Karti Chidambaram Arrested by CBI for FEMA Violations

The case in which the arrest has been made pertains to the approval given by the Foreign Investment Promotion Board for the receiving of funds by INX Media and the approval was given at the time when P.Chidambaram, father of Karti Chidambaram was the union finance minister of the country.
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CBI has arrested congress leader Karti Chidambaram from Chennai for violating the provisions of Foreign Exchange Management Act (FEMA). He was arrested by the Central Bureau of Investigation (CBI) from the Chennai airport as soon as he landed in Chennai from United Kingdom. The permission to travel abroad was sought by him from Madras High Court last week.

The case in which the arrest has been made pertains to the approval given by the Foreign Investment Promotion Board (FIPB) for the receiving of funds by INX Media and the approval was given at the time when P.Chidambaram, father of Karti Chidambaram was the union finance minister of the country. 

An enforcement case information report (equivalent to police FIR) has been registered by the central probe agency against the accused named in the CBI complaint including Karti Chidambaram, INX Media and its directors namely Peter and Indrani Mukerjea.

The enforcement case information report was filed under the provisions of Prevention of Money Laundering Act. The information about the alleged illegal payments by the INX Media was provided by the Enforcement Directorate to the CBI on the basis of which FIR was filed.

Searches by CBI have also been carried at the office and house of Karti Chidambaram in four cities for allegedly receiving money from the media firm of Mukerjea's to scuttle a tax probe. However, the claims made against the chidambarams have been denied by them. 

FIR has registered on the grounds of criminal conspiracy, cheating, receiving illegal gratification, criminal misconduct, and influencing public servants by the CBI.

It has been alleged by the agency that money has been received from INX Media by Karti using his influence to manipulate a tax probe in a case of violation of FIPB conditions to receive investment from Mauritius.

The FIR by CBI was made against the Karti, Chess Management Services of his company, Mukerejas, INX Media, Advantage Strategic Consulting Service and its director Padma Vishwanathan.

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Reviewed by:
Mehak Sharma
Published on 28-Feb-2018
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