All You Should Know About INX Media Case - [Case Study]
Updated: Aug 27, 2019
In the year 2017,the Enforcement Directorate (ED) had lodged an Enforcement Case Information Report (ECIR) against Former Union Minister P. Chidambaram's son Karti Chidambaram, INX Media and its directors, Peter Mukerjea and Indrani Mukerjea, under the provisions of the Prevention of Money Laundering Act (PMLA).
The CBI subsequently filed an FIR against the accused alleging irregularities in the Foreign Investment Promotion Board (FIPB) clearance granted to INX Media in 2007 for receiving overseas funds to the tune of Rs 305 crore when P. Chidambaram was the finance minister.
The Foreigner Regional Registration Officer (FRRO) and the Bureau of Immigration, which comes under the Union Home Ministry, issues a look out circular (LOC) against Karti Chidambaram. As, Madras High Court stays LOCs issued on which Supreme Court Of India stays High Court order and asks Karti Chidambaram to appear before CBI.
The CBI tells the Supreme Court that it has furnished details in a sealed cover on the probe about "possible transactions" in foreign countries and 25 alleged offshore properties of Karti Chidambaram and so he was prevented from travelling abroad as he was allegedly closing several of his foreign bank accounts in a bid to destroy evidence.
In Febuarary, 2018, Karti Chidambaram arrested by the CBI at Chennai aiport and brought to Delhi where court sends him to one-day police custody.
The Enforcement Directorate (ED) attaches assets worth Rs 54 crore of Karti Chidambaram in India, the UK and Spain in connection with the INX Media money laundering case.
On 11th July,2019, Indrani Mukerjea turns approver in the case and accepts the conditions put on her before a judge.
Thus, On 20th August, 2019, Delhi High Court dismissed the anticipatory bail plea of P. Chidambaram.