INX Media case: ED to quiz Karti Chidambaram on Thursday

New Delhi: The Enforcement Directorate (ED) will question Karti Chidambaram, son of former Finance Minister P. Chidambaram, in INX Media money laundering case on Thursday, an official said.

Karti has been questioned on several occasions in the case being probed by the ED as well as the Central Bureau of Investigation. Both the agencies are probing how Karti managed to get clearance from the Foreign Investment Promotion Board (FIPB) in 2007 when his father was the Finance Minister.

Karti was arrested on February 28, 2018 by the CBI for allegedly accepting money to facilitate the FIPB clearance to INX Media. He was later granted bail.

Karti’s chartered accountant S. Bhaskararaman was also arrested and released on bail later.

The agency has also questioned senior Chidambaram twice in the case for giving FIPB clearance to the INX group.

The ED had registered a PMLA (Prevention of Money Laundering Act) 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 Rs 305 crore in 2007.

The ED probe so far showed that for the FIPB approval, INX Media directors Peter and Indrani Mukerjea met P. Chidambaram so that there was no hold-up or delay in their application.

The ED has said that the money so received by associated entities was channelled back into the ASCPL.

The ED has attached properties worth Rs 54 crore belonging to Karti and a firm in the case. It has also attached properties belonging to the Mukerjeas in connection with the same case.