CBI explains how Karti Chidambaram used influence in favour of INX Media

Karti Chidambaram influenced officials to give the green signal to INX Media, the CBI which arrested the son of the former union minister, P Chidambaram said in its FIR.

The CBI said that INX Media promoted by the jailed Peter and Indrani Mukerjea had approached Karti for help after it received a letter from the Finance Ministry asking it to explain how it raised money.

The CBI alleged that Karti wielded influence. The officials ignored serious illegalities committed by the INX Media, the FIR also said.

The officials deliberately embarked on showing undue favour to INX Media by abusing their official position and "advised" the firm to apply afresh for FIPB approval for downstream investment. The INX Media then applies again concealing the fact that they had already received the investment. "Such deceitful and fallacious proposal was favourably considered" by the officials and approved by the then Finance Minister (Chidambaram), the FIR stated.

Payments to Karti were made to Advantage Strategic Consulting Pvt Ltd (ASCPL), which was "indirectly" controlled by him. INX Media records show that Rs Ten lakh payment to ASCPL was mentioned as 'Management consultancy charges towards FIPB notification and clarification, the CBI further stated.

Another Rs 3.5 crore given to other companies in which Karti has "sustainable" interests. "Such invoices were falsely got raised for creation acquisition of media content, a consultancy in respect of market research, acquisition of content of various genre of audio/video etc."

The CBI on Wednesday arrested Karti Chidambaram from the Chennai airport upon his return from London. He has later remanded to one day CBI custody by a Delhi court.

OneIndia News