Karti Chidambaram, son of senior Congress leader P Chidambaram, was arrested by the CBI at Chennai Airport on Wednesday morning in connection with its probe in the INX media corruption case. The businessman was 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. The agency had sought 15 days of remand.
The son of the former Finance Minister 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.
Duty Magistrate Sumeet Anand directed that Karti be produced at 2.30 pm on Friday before the concerned judge who had left the court premises at 4.30 — 20 minutes before the accused's arrival.
His family was informed about the arrest, CBI sources said. CBI counsel VK Sharma said that Karti was not co-operating in the investigation and his frequent visits abroad were to tamper evidence. However, Karti's advocate and Congress leader Abhishek Manu Singhvi denied the allegation and termed the arrest "bizarre".
He said his client had met CBI official as and when he was summoned.
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.
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