INX Media case: Delhi High Court has rejected the anticipatory bail plea of former Finance Minister and senior Congress leader P. Chidambaram during the hearing on Tuesday. After this, the sword of arrest is hanging on him. The petition was filed for an anticipatory bail in the INX Media case. After the petition is dismissed, P. Chidambaram has said that he will go against this decision to the Supreme Court.
What are the charges against P. Chidambaram?
Explain that during his tenure as Finance Minister, the Foreign Investment Promotion Board (FIPB) approved two ventures. The CBI had filed an FIR on May 15, 2017, in the INX Media case. It alleges that during the tenure of Chidambaram, there were irregularities in the FIPB clearance granted to the media group to receive foreign funds of Rs 305 crore in 2007. After this, the ED had filed a case of money laundering in this regard last year.
What is INX Media Case?
The INX Media case is related to the approval of the Foreign Investment Promotion Board (FIPB) in 2007 for the money received by INX Media. Former finance minister P. Chidambaram is also named in this high-profile scam worth Rs 305 crore. The CBI and ED are investigating in the case of how P. Chidambaram’s son Karti Chidambaram got approval from the Foreign Investment Promotion Board for INX Media in 2007, while his father was P Chidambaram at the time. In the CBI and ED’s investigation, it was found that INX Media directors Peter Mukherjee and Indrani Mukherjee had met P. Chidambaram to get approval from the Foreign Investment Promotion Board so that there is no delay in approval from the Foreign Investment Promotion Board.