INX Media Case: A Delhi court today extended the custody of Karti Chidambaram by three days. This comes in response to the CBI's demand seeking 9-days of police custody for Karti Chidambaram.
A Delhi court today extended the custody of Karti Chidambaram by three days. This announcement comes in response of the CBI asking for a 9-day judicial custody of Karti alleging that he isn’t co-operative in the probe. He was arrested by the Central Bureau of Investigation immediately after his return from London on February 28. Karti Chidambaram, son of former finance minister P Chidambaram, was arrested on charges of alleged criminal misconduct by Karti in the grant of Foreign Investment Promotion Board approval to foreign investments received by INX Media company.
The INX media company was owned by Peter and Indrani Mukerjea. Notably, Indrani Mukherjea is serving her jail-term in connection with the Sheena Bora case. Karti Chidambaram was arrested by the CBI on February 28 after a confessional statement was given by Mukerjea before a magistrate.
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After Karti’s arrest, the CBI had sought two weeks’ custody of Karti Chidambaram, alleging that he was arrested because he failed to cooperate with the investigation. Meanwhile, the Congress has claimed that Karti’s arrest is a classic case of political vendetta. He was sent in a five-day CBI custody on March 1.
Here are the top 10 developments in connection with the case
1. The Genesis – The CBI filed a case against Karti Chidambaram in May 2017 in connection with INX Media FDI case. The agency, along with the Enforcement Directorate, carried out a string of raids since on the houses and offices owned by the Chidambarams. Karti Chidambaram was questioned several times. A lookout notice, which alerts airports to stop a passenger from traveling abroad, was also issued against him.
2. The Arrest – Karti Chidambaram was arrested at the Chennai airport after he returned from London. He was brought to Delhi by investigators for detailed questioning. He was sent in a five-day CBI custody on March 1 that ends today by the Patiala House Court.
3. The Accusation- INX entered into a criminal conspiracy with Karti Chidambaram, who received kickbacks to amicably settle a case of violation of foreign investment norms by the company in 2007. The media firm had brought in Rs 305 crore through foreign investment even as the FIPB had approved foreign inflow of only Rs 4.62 crore.
4. Congress’ Defence – As they say, ‘attack is the best defense’. The grand old party attacked the Modi government after the arrest of Karti Chidambaram saying the Centre is trying to deflect public’s attention from the Nirav Modi PNB case. Congress party called it a case of political vendetta. Replying to the attack, the BJP said it was a matter of law and not vendetta.
5. Court’s stance – Immediately after his arrest, the magistrate had sent Karti to one-day remand. Later, on March 1, Patiala House Court sent him to a 5-day police custody. Notably, the CBI had sought for a 14-day remand alleging that Karti was not co-operative in the probe.
6. Karti files a petition against ED – Karti filed a plea against the summon by the ED. Karti Chidambaram, in his writ petition, sought to quash the ED summons against him claiming that the agency has no jurisdiction to issue such summons based on the FIR lodged by the Central Bureau of Investigation.
7. Karti Confronted with Indrani – Karti Chidambaram, arrested in the INX Media case, was brought to the Byculla prison, on March 4, and confronted with Indrani Mukerjea as part of the CBI’s probe into the matter. Karti Chidambaram and Mukerjea were brought face-to-face and questioned by the CBI team for about four hours.
8. SC shocks Karti – In a big setback for Karti Chidambaram, the Supreme Court, on Tuesday, refused to grant anticipatory bail to former Finance Minister P Chidambaram’s son. While denying interim relief to Karti, the apex court posted the matter for further hearing on March 8.
9. Relief Unlikely for Karti – With the Supreme Court denying interim relief to Karti and giving its nod to the ED actions, the chances of Karti walking out free are bleak as even if the special CBI court grants him bail, the ED may forward an application to arrest him. The ED had registered a case against Karti under the Prevention of Money Laundering Act.
10. The Wait Isn’t Over Yet – The Patiala House Court has yet again shattered Karti’s hope to walk free extending his police custody by three days. This comes in response to the CBI’s demand seeking 9-days of police custody for Karti Chidambaram.