News Worms
News Worms

INX Media money laundering case: Delhi HC grants interim relief to…

INX Media money laundering case: Delhi HC grants interim relief to…

Karti is now being produced in court by the CBI as his three-day custody ends on Friday.

The apex court had asked Karti, who is in CBI custody in connection with the INX Media case, to approach Delhi High Court for interim relief in INX Media money laundering case.

Karti Chidambaram, through his counsel told the court that he had not been provided with a copy of the Enforcement Case Information Report (ECIR) due to which the ED should not be able to proceed against him. The CBI applications are being moved so that it could bring them face to face with Karti.

Extending Karti Chidambaram's custody, the court told the CBI to confront him with the Chartered Accountant at Tihar Jail. Being interrogated in INX Media money laundering case, Karti will now be presented before the court on March 12.

P Chidambaram, a Congress veteran, was serving as the Union Finance Minister during that period.

He alleged that INX Media had deliberately and in violation of the conditions of approval made a downstream investment of 26 percent in the capital of INX News Pvt Ltd without the specific approval of FIPB, which included indirect foreign investment by some foreign investors, and generated Rs 305 crore foreign direct investment in INX Media Pvt Ltd against the approved foreign inflow of Rs 4.62 crore.

CBI has already taken nine days police custody of Karti out of the 15 days prescribed under law. The CBI had sought his remand for six more days, reported NDTV.

Defence lawyer Abhishek Manu Singhvi had opposed the CBI plea, mocking at the agency for it failure to locate the registered office address of Advantage Strategic in Kumbukkan Road in Chennai.

Singhvi also argued that the case is ten years old and all documents are available with the CBI. Anyone can Google about it.

"It's tragic for me (Karti)". The CBI cited further investigation for asking the court to extend his custody. "You have no bonafide reason".

According to INX Media co-owners Indrani and Peter Mukerjea, now involved in the murder case of Indrani's daughter Sheena Bora, they paid Karti Chidambaram $7 lakh to secure the foreign investment clearance.

"On March 7, his blood pressure was 140/90 while on March 8 it was 150/100".

The court reserved its order on extending judicial custody till 4.30 p.m.


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