INX Media case : Karti Chidambaram appears before CBI

Congress leader Karti Chidambaram, the son of former Union Minister P Chidambaram finally appeared before the CBI headquarters in Delhi on Wednesday.

Karti Chidambaram is wanted in a corruption case relating to FIPB clearance to INX media for receiving overseas funds to the tune of Rs 305 crore. INX had approval from the FIPB board for bringing in only Rs 4.62 crore. On Tuesday the Madras High court refrained from granting any relief to Chidambaram for quashing of the FIR filed by the CBI and the subsequent summons issued by it in the INX Media case.

The CBI's FIR alleged that invoices of approximately Rs 3.5 crore were raised in favour of INX Media in the name of other companies in which Karti had substantial interests "directly or indirectly". The CBI alleged that Karti received the money from INX Media for using his influence to manipulate a tax probe against it in an FIPB violation case for an investment from Mauritius.