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CBI raids Chidambarams' homes highlights: Search continues at 15 locations; Karti Chidambaram dares BJP to show proof

CBI raided the residences of former Union minister P Chidambaram and his son Karti P Chidamabaram, simultaneously with 14 other locations across Delhi, Chennai and Mumbai.

FP Staff May 16, 2017 18:37:42 IST
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CBI raids Chidambarams' homes highlights: Search continues at 15 locations; Karti Chidambaram dares BJP to show proof

Highlights

11:02 (ist)

All you need to know about cases stacked up against Karti Chidambaram

The allegation against Karti in this case is that his company Advantage Strategic Consulting Private Limited facilitated clearances to INX Media in 2008 for kickbacks.

India Today in a detailed report also explained that investigation had revealed that Karti had received kickbacks from INX Media when FIPB approval papers for the company were pending with his father, who was finance minister at that time. The report said that on 22 September, 2008, Karti's company got Rs 35 lakh from INX Media.

Of course, Karti's father has defended his son and alleged that the government is controlling the CBI and ordering these raids because they do not want him to write against the government.

But this is not the first time Karti Chidambaram has faced similar allegations. In a way, these charges against Karti have damaged the image of his father Chidambaram and the party the same way the allegations against Vadra and his ridiculous 'Are you serious?' retort hurt Congress. Read the full report here

10:43 (ist)

Is the father staring at political downfall triggered by son Karti?

Karma, they say, catches up with you eventually and never misses its date.

This is true in the case of the father-son duo, P Chidambaram and Karti Chidambaram. This is probably the first time that Chidambaram Sr is facing a CBI raid. There is a probability that the former Union finance minister and one of the top leaders of the Congress may just be paying the price for his son’s deeds — that aren’t limited to the ongoing INX episode. This Firstpost article notes:

"But the charges against the Chidambarams are not limited to INX Media case. The father-son duo is also facing probes in the Aircel-Maxis case in which Karti allegedly made a killing through a company he owns — Advantage Strategic Consulting Private Limited."

LIVE NEWS and UPDATES

May 16, 2017 - 13:51 (IST)

Karti Chidambaram reacts to the CBI raids 

Karti fianlly reacts to the CBi raid against him and his father, former union minister P Chidambaram. Talking to the media briefly, he claimed that the raid is part of the Centre's political witch hunt against the Opposition. Karti added that the CBI has no proof against him and that the corruption charges are a ploy by the Centre to stifle his father's dissenting voice. 

May 16, 2017 - 13:14 (IST)

Peter and Indrani both lodged in jail

The Mukerjeas are both lodged in different Mumbai jails in connection with Sheena Bora – Indrani’s daughter’s – murder case.

As of now, it’s difficult for their lawyers to get in touch with the Mukerjeas as they need permission from the prison department. The lawyers are only allowed to meet their clients when they’re in court for their hearings.

May 16, 2017 - 13:05 (IST)

BJP is trying to spoil Chidambaram's good name: Tamil Nadu Congress

As the fate of Chidambaram and his son Karti hang in the balance, Congress leaders from Tamil Nadu have come out in support of the former finance minister.

Senior Congress leader Karate Thiyagarajan told Firstpost"This is to spoil the name of our great leader P Chidambaram. He was so  honest in his term as the finance minister. But now as he is emerging as the next face in Tamil Nadu and is getting all fame to be the next chief ministerial candidate these kinds of political games are eventuated around him. He carried out proper protocol in signing files during his term as the finance minister. He brought a lot of anomalies that were existing earlier to limelight. That has now turned against him as a CBI enquiry. This is a political drama staged to spoil his name."

May 16, 2017 - 12:56 (IST)

Indrani, Peter Mukherjea's Mumbai residences raided by CBI

TV channels reported that founders of INX Media Peter Mukherjea and Indrani Mukherjea's residence in Mumbai's Worli was raided by CBI as well on Tuesday. The ongoing case against INX Media, which is believed to be the reason behind the CBI raid on Chidambaram and his son's home, was actually initiated by the UPA government in 2010.

INX Media has always had a controversial history. Ironically, Chidambaram himself had once referred its financial transactions for investigations by a Serious Frauds Investigation Officer (SFIO). In January 2008, INX Media, founded by Indrani and Peter Mukerjea, ran into trouble when the couple had a dispute with journalist Vir Sanghvi, the CEO. As a turf war raged, Mukerjea fired several journalists close to Sanghvi, most of them on fictitious charges, leading to an exodus at the channel.

May 16, 2017 - 12:39 (IST)

Raids on Chidambaram's properties will further damage Congress' credibility

"The CBI raids at 16 places related to former finance minister P Chidambaram and his son Karti are indications that Narendra Modi government at the Centre has begun a massive crackdown on corruption cases against individuals of all hues.

However, it should also be noted that no matter how much the CBI and government may claim that the law was taking its own course and the investigative agency was acting on its own, the fact remains that the investigative agency would not proceed with an act of this nature against a person as high as Chidambaram unless it had secured clearances from the political leadership in the government."

Read the full analysis here

May 16, 2017 - 12:35 (IST)

INX Media case not the first to haunt Karti Chidambaram

This is not the first time Karti Chidambaram has faced similar allegations. Last month, ED had issued a show-cause notice to Karti and his firm Advance Strategic Consulting Private Limited for alleged violations of the Foreign Exchange Management Act (FEMA) laws to the tune of Rs 45 crore. Besides, the father-son duo is also facing probes in the Aircel-Maxis case in which Karti allegedly made a killing through his company.

Moreover, ED is also probing a firm called, Ziqitza Healthcare Ltd of which Karti is a director. The ED says it has found several irregularities in the claims pertaining to the operation of over 100 ambulances in Rajasthan.

May 16, 2017 - 12:09 (IST)

May 16, 2017 - 12:05 (IST)

Statement once the raids are over: Karti Chidambaram

Coming out of his Chennai residence very briefly, Karti Chidambaram told reporters gathered that all charges levelled against him and his father are baseless. "I am being targetted politically and personally. We will give a detailed statement once the raids are over."

Karti added that his father, P Chidambaram has already said what is to be said. 

May 16, 2017 - 12:03 (IST)

May 16, 2017 - 11:56 (IST)

In a sensational development, the Central Bureau of Investigation (CBI) on Tuesday raided the residences of former Union minister P Chidambaram and his son Karti P Chidamabaram, simultaneously with 14 other locations across Delhi, Chennai and Mumbai, various TV reports said.

However, the details about the reason behind behind the raids are still sketchy.

According to News18, the raid came after a FIR was filed against Chidambaram and Indrani Mukherjea over alleged financial misappropriation over Foreign Investment Promotion Board (FIPB) clearance to Peter and Indrani's media company INX Media in 2008.

According to Times Now, the former union minister is currently in New Delhi while his son is in Chennai. The CBI's Tuesday raid was a first for Chidambaram, however, that is not true about his family.

CBI raids Chidambarams homes highlights Search continues at 15 locations Karti Chidambaram dares BJP to show proof

Former Union minister P Chidambaram. AFP

On 17 April, the Enforcement Directorate (ED) said it had issued notice to Vasan Health Care Pvt Ltd, its promoter Karti, and Advantage Strategic Consulting for violating foreign currency laws to the tune of Rs 2,307 crore.

The ED said it had served notice to Vasan Health Care Pvt. Ltd, its promoters and their relatives for violations of the Foreign Exchange Management Act (FEMA) to the tune of Rs 2,262 crore. Advantage Strategic Consulting was served notice for Rs 45 crore for sale of Vasan Health Care's shares to overseas investors.

Next day, Chidambaram accused the ED of making wild allegations against his son Karti in an alleged forex violation case.

In a statement, the former finance and home minister said the ED's press release did not refer to any specific act on the part of Karti.

Instead, he said it made the "extraordinary and ridiculous" allegation that Karti "appears to be the controller and ultimate beneficiary" of certain transactions of two companies.

Former union minister Chidambaram is also accused in the Aircel-Maxis deal.

In his application to Supreme Court, Swamy had alleged that Chidambaram had illegally granted FIPB clearance to Aircel-Maxis deal in 2006.

Swamy has claimed that the then finance minister had given FIPB clearance to the deal which should have been referred to the Cabinet Committee on Economic Affairs (CCEA), headed by the Prime Minister, as the CCEA alone was empowered to clear foreign investments over Rs 600 crore.

With inputs from agencies

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