The Central Bureau of Investigation today arrested Former Finance Minister P Chidambaram's son Karti Chidambaram in connection with INX media money laundering case. The investigating agency nabbed Karti Chidambaram at Chennai Airport on his return from London. Reports suggest that junior Chidambaram was arrested for not cooperating with the agency.
Last year in May, the CBI lodged an FIR against Karti Chidambaram for alleged irregularities in Foreign Investment Promotion Board (FIPB) clearance to INX Media. It said that INX Media received overseas funds to the tune of Rs 305 crore in 2007 when his father P Chidambaram was the Finance Minister during the then UPA regime.
Not only CBI, the Enforcement Directorate is also probing Karti Chidambaram for money laundering. Last year, the ED registered a case of money laundering against Karti under the Prevention of Money Laundering Act. The ED in its FIR said that Karti received money from INX Media in return for using his influence to manipulate a tax probe against it in a case of violation of Foreign Investment Promotion Board conditions to receive investment from Mauritius.
10.30pm: Senior lawyer and activist Prashant Bhushan says though the CBI may have evidence against Karti Chidambaram, yet there's no justification to arrest him during the investigation, without a chargesheet, since there is no danger of him fleeing the country.
Though CBI may have evidence against Karti Chidambaram, yet there's no justification to arrest him during investigation, without a charge sheet, since there is no danger of his fleeing the country. This show, while big fish like NiMo, MehulBhai &Mallya are allowed to loot & scoot- Prashant Bhushan (@pbhushan1) February 28, 2018
8.39pm: Karti Chidambaram has been sent to one day police custody by the Delhi's Patiala House Court in the INX Media case.
6.30pm: Earlier Singhvi said the CBI was delaying the hearing of Karti Chidambaram.
Sitting in CBI designated court, room 4 at patiala Hs since 2 pm 2oppose Karti C remand but CBI not produced him yet. Hope they r not waiting for a late evening hearing. Why the delay? They landed frm chennai at 120 pm. No cause for this xcept to go to duty magis post 430 pm.- Abhishek Singhvi (@DrAMSinghvi) February 28, 2018
5.35pm: Senior Congress leader and lawyer Abhishek Singhvi, who will represent Karti, says the CBI has arrested Karti Chidambaram at a time when the Narendra Modi government is being questioned over 'Chhota Modi'.
5.29pm: The CBI, during a hearing at a Delhi court, says Karti Chidambaram is evasive in his replies and investigation.
CBI during hearing at a Delhi court says "#KartiChidambaram is evasive in his replies and investigation. He made incorrect statements with respect to evidence. All this delays the conclusion of investigation."- ANI (@ANI) February 28, 2018
5.25pm: The FIR till today does not name Karti Chidambaram as accused, says Congress spokesperson Randeep Singh Surjewala.
16:35 pm: Karti Chidambaram left CBI headquarters for Patiala House Court. Senior Congress leader and lawyer Abhishek Singhvi will represent
Karti in the Court.
15:15 pm: Karti Chidambaram has been taken to the CBI headquarters for brief questioning. He will be produced in Patiala House Court shortly: Report
14:55 pm: CBI gave him a lot of chances but he continued with his lies even after all evidence was presented against him. He will certainly go to jail & charge-sheet will be filed by CBI. This is a great achievement: Subramanian Swamy on Karti Chidambram arrest
14:34 pm: Congress leader and Senior Advocate Abhishek Manu Singhvi to appear for Karti Chidambaram in Delhi's Patiala House Court later today: Report
13:25 pm: Karti Chidambaram lands in Delhi. He will be taken to CBI headquarters for medical examination: Reports
13:05 pm: CBI will inform Court about Indrani Mukerjea's alleged confession that in 2007, the couple took help of Chess Management Service once their application for FIPB clearance of Rs 305 Crore was rejected. FIPB allowed only Rs 5 Crore clearance: ANI quoted CBI sources
12:50 pm: Karti Chidambaram to be produced before special CBI Judge Sunil Rana: Reports
12:02 pm: Karti Chidambaram was destroying evidence related to INX Media case in UK: CBI sources told India Today
11:40 am: CBI claims enough proof to nail Karti in INX media case. 'Have enough documentary proof on kickback," CBI sources told India Today.
11:30 am: Karti Chidambaram is enroute to Delhi. He will be produced in Patiala House Court after 2 PM: Report11:20 am: Karti Chidambaram's arrest is vendetta vendetta and a diversionary tactic by the Modi government to hide its scams and mal-governance: Congress
11:10 am: Scams worth over Rs 30,000 crore were unearthed in the last 10 days alone. But the Prime Minister has not moved the transition from Maun Modi to Bol Modi. The Prime Minister remains mum about hhota Modi as also Mehul Choksi: Congress' communications in-charge Randeep Surjewala.
The Enforcement Directorate had earlier summoned Karti to appear before the agency on March 1. The CBI and ED have both grilled Karti Chidambaram on multiple occasions. Reacting to Karti Chidambaram's arrest, Subramanian Swamy said that all this will lead to P Chidambaram. "P Chidambaram is the main culprit and Karti Chidambaram is a beneficiary," Swamy said.
Earlier this month, the Enforcement Directorate arrested Karti Chidambaram's Chartered Accountant S Bhaskararaman for not cooperating in the money laundering probe. The agency alleged that Bhaskararaman failed to appear before the investigating team even after several summonses were issued seeking his presence.
The CBI and the ED had carried out a series of raids on the houses and offices owned by the Chidambarams. Karti Chidambaram was questioned several times by the ED.
A lookout notice, which prevents a passenger from travelling abroad, was issued against him as the agencies suspected that he would try to close foreign accounts where he had parked the money from the kickbacks.
In November, the Supreme Court allowed Karti Chidambaram to go to the UK for his daughter's admission in the Cambridge University.
According to the CBI, INX Media clearly states in its records that Rs 10 lakh was given to Advantage Strategic Consulting (P) Limited, a firm "indirectly" owned by Karti, for management consultancy charged towards FIPB notification and clarification.
The FIR also alleges that invoices of approximately Rs 3.5 crore were raised in favour of INX group in the name of other companies in which Karti had substantial interests "directly or indirectly".
The agency has registered an FIR against Karti, his company Chess Management Services, the Mukerjeas, INX Media, Advantage Strategic Consulting Services and its Director Padma Vishwanathan. The allegations levelled by the CBI are based on the information given by "source", the FIR has claimed.
(With inputs from PTI)
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