Breaking: Congress leader Karti Chidambaram arrested by CBI for FEMA violation
- Former finance minister P Chidambaram’s son and Congress leader Karti Chidambaram was on February 28, Wednesday morning, arrested by the CBI from Chennai for violating the Foreign Exchange Management Act
- This case relates to the approval given by the Foreign Investment Promotion Board for receipt of funds to INX Media
- The central probe had registered an Enforcement Case Information Report against the accused named in a CBI complaint, including Karti Chidambaram, INX Media and its directors Peter and Indrani Mukerjea
FollowFormer finance minister P Chidambaram’s son and Congress leader Karti Chidambaram was on February 28, Wednesday morning, arrested by the CBI from Chennai for violating the Foreign Exchange Management Act.
This case relates to the approval given by the Foreign Investment Promotion Board for receipt of funds to INX Media, which took place while his father P Chidambaram was Union Finance Minister.
According to PTI, the Supreme Court of India had last week refused to stay a summon order issued by the Enforcement Directorate against Karti in the INX Media money laundering case, after the CBI said he was “not a common criminal”, but his plea for quashing the notice was a guise for an anticipatory bail plea.
On February 26, Monday, Delhi’s Patiala House court had sent S Bhaskaran, Karti Chidambaram’s chartered accountant (CA), to 14-day judicial custody in connection with the INX Media money laundering case.
It was the Enforcement Directorate, which had provided information about the alleged illegal payments made by INX Media, based on which the CBI had filed its FIR.
Sources claim that Karti Chidambaram is likely to be produced before a CBI judge and after obtaining transit warrant, he will be flown to Delhi for judicial remand.
