Health Care

Karti Chidambaram appears before CBI in FIPB approval case

Karti Chidambaram appears before CBI in FIPB approval case”

Karti Chidambaram, son of former Finance Minister P. Chidambaram, on Wednesday appeared for questioning before the CBI in a matter related to alleged irregularities in FIPB clearance to INX Media in 2007.

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.

The FIR does not mention the name of Chidambaram senior, though it said he cleared the FIPB approval for Rs 4.62 crore Foreign Direct Investment (FDI) in the FIPB meeting on May 18, 2007.

The CBI filed a formal complaint on May 15 and has searched the homes and offices of Karti and his associates in connection with the charges. Subsequently, more summons were issued.

Hence, in the interest of justice and in order to avoid conflicting views in the matter, the judge directed the Registry to return all the papers filed before the court to the parties for enabling them to approach the Delhi High Court, which has superintendence over the Special Court for CBI cases there, the judge added. Last week, the Supreme Court cancelled a High Court order that had put the notice on hold, and said Karti can not leave India without submitting to investigation. However, the Madras High Court on Tuesday asked him to approach the Delhi High Court.

He had also challenged the Look Out Circular issued on the CBI's request to prevent his travel overseas.

However, the Supreme Court had on August 14 stayed the high court order on an appeal by the Centre after observing that Karti had not joined the investigation in the case.

Karti has argued against the lookout circular and also said in court that he is being targeted because of his father.

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