As CBI raided his home, Chidambaram was in Bengaluru and refused to speak

It was also alleged that INX Media too had received FIBP clearance. It was found that it had paid consultation charges to Advantage Strategic, a firm linked allegedly to Karti.

When the raids were being conducted his residence in Chennai, P Chidambaram, the former union minister of India was at the Karnataka High Court. He was in Bengaluru to argue a case.

As he walked into the High Court premises, a large contingent of the media was waiting to get his comments on the ongoing raids. He however smiled and continued to walk. Several attempts by the media to elicit a response from him went in vain and the former minister refused to speak.

Chidambaram however spoke out against the raids later. He even issued a statement calling the raids as a witch hunt against him. He said that an attempt was being made to silence him.

The raids were conducted following a probe by the Enforcement Directorate. The allegation is that Aircel a Malaysian company was sold to Maxis in a deal which allegedly contravened protocol for foreign direct investments. Chidambaram was accused of clearing the deal as the ex-officio chairman of the FIPB when he did not have the authority to do since, since the amount involved was higher than Rs 600 crore.

It was also alleged that INX Media too had received FIBP clearance. It was found that it had paid consultation charges to Advantage Strategic, a firm linked allegedly to Karti. Documents that were recovered from the office of Karti Chidambaram and Advantage point out that the latter received consultancy fees from companies that had applied to the Foreign Investment Promotion Board at a time it came under then finance minister P Chidambaram.

OneIndia News