TOP STORIES

ED raids Karti Chidambaram's properties in Delhi, Chennai

| | New Delhi
ED raids Karti Chidambaram's properties in Delhi, Chennai

The Enforcement Directorate on Saturday conducted raids on senior Congress leader P. Chidambaram's son Karti's properties in Delhi and Chennai in connection with the INX Media money laundering case.

The raids were being conducted at one location in Delhi and four in Chennai.

The agency on Thursday issued fresh summons to Karti Chidambaram in a money laundering case related to alleged irregularities in getting foreign investment for the INX Media in 2007.

The ED had registered a money laundering case against the former Finance Minister's son in May 2017.

The Central Bureau of Investigation (CBI), which separately probing how INX Media got a clearance from Foriegn Investment Promotion Board (FIPB). The CBI FIR also name INX Media directors, Peter and Indrani Mukerjea -- both accused in the Sheena Bora murder case.

Karti is facing a probe for his alleged role in facilitating the FIPB's clearance for INX Media when his father was the Union Finance Minister.

Karti is alleged to have received Rs 3.5 crore from Mumbai-based INX media, now 9X Media, for helping it get the 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 hawala routes".

Following the FIPB clearance, the INX Media said it had received Foreign Direct Investment (FDI) of Rs 46.20 million, but actually received Rs 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.

 
 
 
 
 

TOP STORIES

Sunday Edition

View All

Myanmar Army‚Äôs admission of killings a ‚Äėpositive step‚Äô: Suu

14 Jan 2018 | AFP | Yangon

Myanmar’s civilian leader Aung San Suu Kyi has welcomed an unprecedented army admission that security forces carried out extra-judicial killings of Rohingya Muslims as a “positive step”, state-backed media reported on Saturday. After months of staunch denials of abuse, the army on Wednesday said a probe found four members of the security forces helped kill 10 Rohingya militant suspects at Inn Din village on September 2, leaving their bodies in a...

Read More

STATE EDITIONS

View All

State lags behind in education status, reveals ASER report

17 Jan 2018 | PRAGYA PALLAVI | Ranchi

Annual Status of Education Report (ASER-2017) released on Tuesday covering 28 districts of 24 States on ‘Beyond Basics’- A survey of rural India youths, presented a gloomy picture of Jharkhand on a few basic parameters in comparison with the districts of Bihar, Odisha, West Bengal and Chhattisgarh. The survey based on 4 As (Activity, Ability, Awareness, Aspirations) covering the age group 14-18 years, Jharkhand lags behind in enrollment status, digital use,...

Read More

Page generated in 0.2513 seconds.