Karti Chidambaram, son of senior Congress leader P Chidambaram, was sent to 5 days of CBI custody for interrogation on Thursday, a day after he was arrested from Chennai Airport in connection with the INX media corruption case.
The son of the former Finance Minister will be confronted with the co-accused to unearth the larger conspiracy in the case.
Special Judge Sunil Rana directed that the businessman be produced in court at 12 pm on March 6 after he found that the case is at an initial and crucial stage of investigation.The CBI said there is a prima facie material showing Karti's involvement in the scam, and that his custody is required for further investigation. There were very shocking evidences that when he went abroad he closed bank accounts in which funds were received, the CBI said.
Additional Solicitor General (ASG) Tushar Mehta appeared for the CBI. Lawyers, including Congress leader Abhishek Manu Singhvi, Dayan Krishan and Mohit Mathur, represented Karti.
Karti was brought to the court amidst tight security where his father P Chidambaram and mother Nalini Chidambaram were waiting for him. "Be strong and brave. I am with you," P Chidambaram told his son as he tried to hide his worry. He was also seen prompting and guiding his legal team to read a particular paragraph from an order given by the Madras High Court. The court however refused to allow home-cooked food, but let Karti take prescribed medicines. CBI assured the court that it would give him the best quality food and treatment.
During the break, Singhvi sought 15 minutes from the court so that Karti be allowed to meet his parents. The court accepted the request and allowed the meeting in the presence of the Investigation Officer of the CBI.
Karti was seen having an intense discussion with his father for 15-20 minutes. One could gauge how worried they were. After the court directed the remand, P Chidambaram again looked worried.
Karti had been held on his return from London, brought to the CBI headquarters and produced before a local Delhi court that sent him to one-day CBI custody on Wednesday.
He had told reporters, "This is vendetta, I will be vindicated". The arrest prompted the Congress to also cry vendetta — a charge that met with a fierce counter-attack from the ruling BJP.
The 46-year-old allegedly received kickbacks for using his influence in the Finance Ministry to help INX Media get approval for foreign investments, and scuttle a tax probe against the media company. His father was the Finance Minister then.
The arrest also comes right before Parliament's session from Monday, and strengthens the government's hand in taking on the Opposition that has been up in arms over a string of issues.
The case against Karti was registered in May 2017. CBI and Enforcement Directorate (ED) are investigating him for criminal conspiracy, cheating, seeking to influence a public servant, criminal misconduct and money laundering.
The initial FIR says his front firm Advantage Strategic Consulting (P) Limited received Rs 10 lakh, but agencies suspect the figure could be Rs 3.5 crore. He is being probed by ED for money laundering, and by CBI for corruption.
INX Media directors Peter and Indrani Mukerjea, the couple in jail for her earlier-marriage daughter Sheena Bora's, murder, are also accused in the case.
Agencies have alleged INX Media received the Foreign Investment Promotion Board's approval for a Rs 4.62-crore investment but received Rs 305 crore by sale of shares at a premium of Rs 800 per share instead of Rs 10 as mentioned by the company in its application.
After the I-T Department started its probe, INX Media allegedly roped in Karti's Chess Management Services Pvt Ltd to influence FIPB officials and get issues resolved.
P Chidambaram has been denying any wrongdoing, saying all investment approvals granted during his tenure were above board.
The two agencies have raided the houses and offices of Chidambarams and questioned Karti several times. A lookout notice was also issued against Karti.
P Chidambaram had directed Indrani and Peter Mukerjea to meet his son Karti and help him in his business and also make "foreign remittances" for the Foreign Investment Promotion Board (FIPB) clearance to their company INX Media, the Enforcement Directorate (ED) has also claimed.
The Mukerjeas also admitted to having met Karti in Hotel Hyatt in Delhi where a demand for illegal gratification of 1 million US dollar was made, the agency claimed. ED claimed to have found this during Indrani's interrogation. Senior Congress leader Chidambaram and his son have rejected these claims and said that they are just political vendetta.
"It was further admitted that Karti suggested the names of Chess Management and Advantage Strategic as alternatives to make payments," ED's status report has said.
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