INX Media case: Karti Chidambaram grilled by ED for 10th time

New Delhi, Feb 07: The Enforcement Directorate (ED) on Thursday grilled Karti Chidambaram, son of former Finance Minister P. Chidambaram with the INX Media case. His father P Chidambaram has been summoned by the agency to join the investigation on Friday.

Karti has already been questioned by the ED on several occasions in the case. The Central Bureau of Investigation is also investigating the case. The agencies are probing into how did Karti manage to get clearance from the Foreign Investment Promotion Board (FIPB) in 2007 when his father was the Finance Minister.

Karti was arrested on February 28, 2018 by the CBI for allegedly accepting money to facilitate the FIPB clearance to INX Media. He was later granted bail. Karti's chartered accountant S. Bhaskararaman was also arrested and released on bail later.

The ED has attached properties worth Rs 54 crore belonging to Karti and a firm in the case. It has also attached properties belonging to the Mukerjeas in connection with the same case.

According to the investigative agencies, INX Media showed a transaction of Rs 10 lakh named against Advantage Strategic Consulting Pvt Ltd, a firm which is allegedly indirectly owned by Karti, as management consultancy charges towards an FIPB notification and clarification.

It has been alleged that Karti Chidambaram took money from INX Media and used his influence and power to manipulate a tax probe against the company regarding a case of violation of FIPB conditions to get investments from Mauritius.