Millennium Post

ED summons Karti Chidambaram in INX media case

New Delhi: The Enforcement Directorate (ED) on Thursday issued fresh summons to Karti Chidambaram, son of Congress leader P. Chidambaram, in a money laundering case related to alleged irregularities in FIPB clearance accorded to INX Media in 2007, an official said.
Karti Chidambaram has been asked to appear at the ED headquarters here on January 16 and record his statement before ED officials probing the case.
The agency's move comes after he did not appear at the agency's headquarters on Thursday in response to earlier summons issued against him.
The ED had registered a money laundering case against him in May 2017.
Also named in a Central Bureau of Investigation (CBI) FIR along with INX Media and its directors, Peter and Indrani Mukerjea -- both accused in the Sheena Bora murder case -- and others, Karti Chidambaram is facing a probe for his alleged role in facilitating the Foreign Investment Promotion Board's (FIPB) clearance for INX Media Ltd when his father was Union Finance Minister.
Karti Chidambaram is alleged to have received Rs 3.5 crore from Mumbai-based INX media, now 9X Media, for helping it get FIPB clearance when it was run by the Mukerjeas.
The ED, which is probing financial misappropriation in the case, has contended that Mukerjeas had "allegedly siphoned off 90 million pounds and the money is suspected to have gone to foreign countries through the unauthorized route of hawala".
Following the FIPB clearance, the INX Media said it had received Foreign Direct Investment (FDI) of Rs 46.20 million, but actually received 3,053.60 million between August 2007 and May 2008, the ED said.
Accordingly, this excess foreign exchange equivalent to Rs 3,004.40 million, beyond the disclosed the permitted foreign investment, was received by INX Media from three Mauritius-based investors, said the ED.
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