P.K. Chidambaram India’s Ex-Finance Minister Arrested

P.K. Chidambaram

P.K. Chidambaram India’s Ex-Finance Minister Arrested

The CBI had sought five-day custody for his interrogation to unearth a “large conspiracy”, stating that he had tremendous potential of not co-operating in the probe he was highly intelligent.

A court on Thursday sent former Union Finance Minister P. Chidambaram to five-day CBI custody in connection with the INX Media case. The court allowed Mr. Chidambaram’s family member and lawyer to meet him for half an hour every day during custody.

Mr. Chidambaram’s layers opposed the remand plea, counting the charge of non-cooperation in the investigation. As because when the court sent a summon of his name, he accepted that notice and answered all the questions whatever he asked for and after that, they don’t summon him back. In the name of the evidence, it had only a statement of co-accusedIndraniMukharjea director of INX media.

Mr. Chidambaram was bought o the courtroom around 3:15 p.m. his wife and son were present in the courtroom along with senior advocates Kapil Sibal and Abhishek Manu Singhive during the hearing on 26th of August 2019.

INX Media Case

In March 2007, INX Media had approached Chairman of FIPB, seeking permission for issuing equity shares to three non-residents investors-based Mauritius through the foreign direct investment (FDI) route. Moreover Based on the information provided by the ED against the accused mentioned above, alleging irregularities in the FIPB clearance granted to INX Media in 2007 for receiving overseas funds to the tune of Rs 305 crore when Chidambaram was the finance minister.

This FDI money cording to the FIR was sought for creating and operating several television channels. The application to the FIPB also mentioned its intention to “make a downstream financial investment to the extent of 26 percent of the issued and outstanding equity share capital for INX News Private Limited”.

When the Income Tax Department sought clarification on the above in February 2008, INX Media allegedly sought to wriggle out the mess by offerings kickbacks to Karti to leverage on his family name to scuttle the probe. During the search in the home related to this case, CBI stated that they received funds to the tune of Rs 10 lakh in the case. The agency sleuths reported recovered vouchers for this amount issued in the favor of Advantages Strategic Consulting(P) Limited a firm indirectly owned by him.

In March 2008, Indrani Mukerji told the CBI statement recorded under Section 164 of the Carps that a deal of $1million was stuck between Karti Chidambaram and the Mukerjeas to secure approval from the FIBP in favor of INX Media. Last month, a Delhi court had allowed IndraniMukerjea, who is the prime accused in the murder of her daughter Sheena Bora, to turn approval in the INX case.

In her application to turn approver, Mukerjea had prayed for pardon in the case in exchange for full and true disclosure.

After Chidambaram caught deep into the INX Case

After his arrest in the INX case, P. Chidambaram spent the night of Aught 21 in the same headquarters, whose inauguration he had attended nearly eight years ago when he was the Union Home Minister in UPA2.

Besides, Karti Chidambaram, congress LokSabha member, and son of former Finance Minister P. Chidambaram, on Thursday said that the action against his father was to silence him a denied ever meeting INX Media founders Peter Mukherjea and Indrani Mukherjea.

Karti Chidambaram told reporters at the Delhi Airport when he came to meet his parents that, “This is political vendetta to silence my father. My father has been the most vocal critic of his government”.

And apparently on Wednesday, the CBI arrested MR. Chidambaram on the charge of being involved in a bribery case in which he and Mr. KartiChidambaram were alleged to have received kickbacks from the INX Media founders.

And lastly in Mr. Karti Chidambaram also denied meeting the Mukherjeas or influencing the decision of the Foreign Investment Promotion Board.

Now, in the end, let’s see what will be the conclusion at last of this bribery case over former Finance Minister.

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