INX Media Scam: Karti Chidambaram Arrested By The CBI

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INX Media Scam: Karti Chidambaram Arrested By The CBI

Karti Chidambaram the son of senior Congress leader P. Chidambaram was arrested for money laundering. The Central Bureau of Investigation (CBI) arrested Karti today from the Chennai airport. Mr. Karti was returning from London and was held at the airport for questions. The officials will take Mr. Karti to Delhi later in the day.

In May last year, the Enforcement Directorate (ED) filed a case against Karti Chidambaram. The case relates to irregularities in the Foreign Investment Promotion Board (FIPB) fund released to INX Media. The CBI alleges Karti took a bribe of Rs. 10 lakhs to use his influence to gain investment for INX Media from Mauritius.   

The investment received sums up to Rs. 300 crores in 2007 when Karti’s father was union finance minister. The CBI raided Karti’s houses and offices in four states. However, both the Chidambarams have denied these allegations calling it a political vendetta.   

This comes just before the Parliament can reconvene for the second phase. The Government will be subjected to a continuous attack from the opposition over the Punjab National Bank and Nirav Modi scandal. But Chidambaram’s arrest shows the Government takes corruption seriously.   

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