CBI searches Karti’s premises for helping media house

Mangalore Today News Network

New Delhi/ Chennai/ Mumbai, May 17 2017DH News: The CBI on Tuesday searched the premises of Karti Chidambaram, son of former finance minister P Chidambaram, on allegations of receiving kickbacks to help a media company circumvent rules to raise foreign direct investment (FDI).

Searches were also carried out at 14 locations in Chennai, Mumbai, Delhi and Gurugram in the early hours of Tuesday.

In Mumbai, searches were carried out at the bungalow of former media mogul Peter Mukerjea and his wife Indrani — founders of INX Media. Peter and Indrani are currently in jail for the murder of Sheena Bora, Indrani’s daughter from her first marriage.

On Monday, the CBI filed an FIR against Karti, his company Chess Management Services, the Mukerjeas, INX Media, Advantage Strategic Consulting (P) Ltd (“indirectly” owned by Karti) and its director Padma Vishwanathan on charges of criminal conspiracy, cheating, receiving illegal gratification, influencing public servants and criminal misconduct.

According to the FIR, INX Media generated more that Rs 305 crore in FDI when the Foreign Investment Promotion Board (FIPB) had approved Rs 4.62 crore. When the violations led to an Income Tax (I-T) probe, the CBI claims that INX Media roped in Karti to influence the probe and wriggle out of the situation.
The allegations levelled by the CBI are based on the information given by a “source”, the FIR stated.

The CBI recovered Rs 10 lakh vouchers which were “paid for the services”. These vouchers were issued in favour of Advantage Strategic Consulting (P) Ltd, said CBI Joint Director (anti-corruption) Vineet Vinayak. Invoices of Rs 3.05 crore have also been recovered, he added.

Briefing media persons in Delhi, Vinayak made it clear that the CBI had searched Karti’s residence and not that of P Chidambaram. At the same time, Vinayak did not rule out that P Chidambaram was not under the CBI scanner.

“We have set the process of investigation in motion with the FIR. All the relevant issues will be investigated. All the people whose involvement has come forth will be examined,” he added. Vinayak said the CBI has also recovered mails and hard disks which need to be examined.

Karti was present in his Nungambakkam residence during the raid, while P Chidambaram was in Bengaluru to argue a case in the Karnataka High Court.