New Delhi: A Special Court on Wednesday issued summons against former Union Minister P Chidambaram, Karti Chidambaram, and others including several firms in the INX Media group money laundering case.
The court has taken cognisance of the Enforcement Directorate’s (ED) main chargesheet in the matter. All accused have to appear before the court on April 7, 2021.
Special Judge MK Nagpal while taking the cognizance on the charge sheet said, “I find sufficient material and grounds for proceeding further in the matter against all the 10 accused persons named in the complaint, out of which six accused are companies, for the commission of offence under Section 3 read with Section 70 of the Prevention of Money Laundering Act (PMLA), which is punishable under Section 4 of the said Act.”
Court noted that only accused P Chidambaram and S Bhaskararaman were arrested during the investigation of the case and they both are presently on bail.
Court also noted that the extensive arguments advanced by Amit Mahajan, Central Government standing counsel, and NK Matta, special PP for Directorate of Enforcement and have also carefully perused the entire record of the case.
Enforcement Directorate in June 2020 had filed a prosecution complaint (charge sheet) in INX Media money laundering case involving former Union Minister P Chidambaram and others in Rouse Avenue Court.
The INX Media money laundering case involves former Union Finance Minister P Chidambaram with the allegation of irregularities in foreign exchange clearance given to INX Media group for receiving overseas investments in 2007.
Karti Chidambaram, son of P Chidambaram, currently a sitting Member of Parliament, is also an accused in the matter. Besides Chidambarams, the charge sheet also names Karti’s chartered accountant S Bhaskararaman and others.
Earlier, CBI had registered its case on May 15, 2017, alleging irregularities in a Foreign Investment Promotion Board clearance granted to INX Media group for receiving overseas funds of Rs 305 crore in 2007 during Chidambaram’s tenure as finance minister.
Thereafter, ED had lodged a money laundering case. The case pertains to FIPB clearance given to INX Media to the tune of Rs 305 crore when P Chidambaram was the finance minister. The economic offences watchdog had registered a PMLA case based on FIR by the CBI and alleged that irregularities took place in the FIPB clearance to INX Media.