The INX Media case refers to an ongoing hi-profile money laundering investigation in India alleging irregularities in the Foreign Investment Promotion Board pass given to INX group for receiving overseas funds in 2007 when P. Chidambaram was union finance minister at the time.
The allegations are over tens of millions of dollars (Rs 305 crore) worth of clearances given to INX Media and the kickbacks received by the former finance minister’s son, Karti Chidambaram.
Background
In 2017, the Enforcement Directorate had filed a case against P. Chidambaram‘s son Karti Chidambaram, INX Media and its directors, Peter Mukerjea and Indrani Mukerjea and a few others for money laundering.
In 2018 Karti Chidambaram was arrested by the CBI later released on bail. In October 2017, P Chidambaram conveys to the Supreme Court of India that the case is a “politically-motivated vendetta” against him and his son.
In 2018, the Enforcement Directorate seized assets of Karti Chidambaram worth Rs 54 crore, including properties in New Delhi, Ooty, United Kingdom and Barcelona in relation to the INX Media case.
Investigation
P. Chidambaram, former Union Minister of Finance went missing after the CBI and ED issued a notice to appear before them.
He appeared around 24 hours later at the Congress Party headquarters and made a statement to the press that he has “not committed any offence in INX Media case” and “will respect the law”.
His plea for an anticipatory bail in INX Media case was dismissed by the Delhi High Court on August 20, 2019.
On August 21, 2019, he was arrested by the CBI.
To arrest Chidambaram, the CBI climbed the walls of his house.
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