CBI raid carried out because of political vendetta says Karti Chidambaram

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Former finance minister and senior Congress leader P Chidambaram's son Karti Chidambaram on Tuesday said that this raid is being carried out only because of political vendetta.

He further said, ''Have done nothing wrong. They could not prove allegations against me, they want to silence our voice.''

Earlier today, Former finance minister and senior Congress leader P Chidambaram and his son Karti Chidambaram were raided by Central Bureau of Investigation after the agency registered a case against Karti, Peter Mukerjea and Indrani Mukerjea, two private companies and unknown officials of ministry of finance for alleged corruption and criminal conspiracy for FDI approval for INX Media Pvt Ltd.

It is alleged that INX Media got an approval from the Foreign Investment Promotion Board for Rs. 4.62 crore investment, but it received Rs. 305 crore FDI by sale of shares at a premium of Rs. 800 a unit. Against the FIPB decision, a downstream investment of 26% of the funds was also allegedly made in INX News.

Meanwhile, Chidambaram said that he and his son Karti were being targeted to muzzle his voice.

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