INX Media case: CBI grills Karti Chidambaram for 8 hours, to be questioned again

The CBI on Wednesday grilled Karti Chidambaram for about eight hours and asked 100 questions on different aspects of the case in connection with an alleged irregularity in Foreign Investment Promotion Board (FIPB) clearance given to a media group, INX Media, for receiving funds from Mauritius when his father P Chidambaram was the Union Finance Minister.

Karti reached the CBI office at about 10.20 am and left around 7 pm. He would again be examined on August 28 along with four other accused. Karti is the first person in the case to be questioned in Delhi.

Karti Chidambaram is wanted in a corruption case relating to FIPB clearance to INX media for receiving overseas funds to the tune of Rs 305 crore. INX had approval from the FIPB board for bringing in only Rs 4.62 crore.

On Tuesday the Madras High court refrained from granting any relief to Chidambaram for quashing of the FIR filed by the CBI and the subsequent summons issued by it in the INX Media case.

According to the CBI, INX Media stated in its records that an amount of Rs 10 lakh was given to Advantage Strategic Consulting (P) Limited, a firm the CBI said was "indirectly" owned by Karti, for management consultancy charges towards an FIPB notification and clarification.

The CBI's FIR also alleged that invoices of approximately Rs 3.5 crore were raised in favour of INX Media in the name of other companies in which Karti had substantial interests "directly or indirectly".

The CBI alleged that Karti received the money from INX Media for using his influence to manipulate a tax probe against it in an FIPB violation case for an investment from Mauritius.

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