The CBI on Friday filed a chargehseet in the INX Media corruption case, naming 14 individuals and entities, including former Finance Minister P Chidambaram, his son Karti, and then additional secretary in Department of Economic Affairs Sindhushree Khullar.
They have been charged with committing offences under various IPC sections relating to criminal conspiracy and cheating and also under the Prevention of Corruption Act for causing loss to the exchequer.
Then Director in the Foreign Investment Promotion Board Prabodh Saxena, then Joint Secretary and Undersecretary in the Department of Economic Affairs Anup K Pujari and R Prasad respectively have also been chargesheeted, CBI officials said. All the chargesheeted persons have been accused of involvement in the criminal conspiracy for irregular clearance of FDI to INX to the tune of Rs 307 crore.
Two companies allegedly controlled by Karti — Singapore unit Advantage Strategic Consultancy Private Limited and Chess Management Services Private Limited — have also been named in the chargesheet.
These companies are alleged to have laundered the bribe money. Then INX promoters Peter Mukherjea and his then wife Indrani allegedly transferred money to these companies for alleged favours in the irregular approval of the FDI.
Others named in the chargesheet, include Section Officer Ajit Kumar Dungdung and OSD in Finance Ministry Pradeep Bagga, Peter Mukherjea and chartered accountant S Bhaskaraman.
Initial probe by the CBI had revealed that FDI worth Rs 307 crore but detailed investigation led to a finding of foreign investment in INX to the tune of Rs 403 crore.
The chargesheet has also mentioned that Peter and Indrani allegedly in conspiracy with Chidambaram and FIPB officials disregarded FIPB rules to settle the issue as INX was initially granted an FIPB approval of only Rs 4.62 crore but actual investment in the company stood at Rs 403.7 crore. Under Foreign Exchange Management Act (FEMA), INX was liable for a payment of penalty to the tune of Rs 300 crore but the company was saved due to the alleged favours by the then Finance Ministry and FIPB officials.
The chargesheet was filed before a special court. It said an illegal gratification of Rs 9.96 lakh was received by Advantage Strategic, controlled by Karti for alleged illegal facilitation to regularise the excess FDI received by INX.
The CBI had in May 2017 registered a case for alleged irregularities in granting the FIPB clearance to the INX Media. Based on the CBI’s FIR, the Enforcement Directorate later registered a money laundering case under the Prevention of Money Laundering Act.
One of the then promoters of INX Indrani later turned approver in the case and is a key link in the CBI probe. “Prabodh Saxena and Rabindra Prasad are currently serving as principal secretaries in the Himachal Pradesh Government,” an official said.
The name of Indrani appears in the list but she is not booked under any charges as she had turned approver. The remaining accused persons have been booked under IPC Sections relating to cheating, criminal conspiracy and forgery besides graft under the Prevention of Corruption Act, the official said.
The CBI has accused Karti of floating a shell company to receive bribe as consultancy fee and other payments. “Indrani had also alleged to have paid USD 5 million as bribe to the Chidambarams in offshore accounts. We have sent Letters Rogatory to foreign countries to seek details on the payments,” said an agency official.
Chidambaram, who was arrested from his residence in posh Jor Bagh here on August 22, is presently in ED custody for custodial interrogation in a related money laundering case.
In the chargesheet, the CBI has mentioned that Chidambaram, during his tenure as Finance Minister, had allegedly facilitated a huge transfusion of foreign funds for the TV company and his son Karti had allegedly received kickbacks for the deal, officials added.
