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

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

  • 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.

  • 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."

  • 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.

  • 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

  • 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.

  • 12:09 (IST)

  • 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. 

  • 12:03 (IST)

  • 11:56 (IST)

  • 11:56 (IST)

    Copy of the FIR filed in the INX case filed on Monday

    P Chidambaram's son has been mentioned as the third accused in the FIR filed in case against INX Media.

    FIR filed in the INX Media case by Firstpost on Scribd

  • Vendetta politics is not bad, after all

    Son trouble everywhere for opposition politicians. As CBI conducts raids on Karti Chidambaram's properties across states there is news that Income Tax department is conducting a similar operation against RJD chief Lalu Prasad Yadav's kin. The landed properties owned by firms of his sons are under scanner, media reports say.

    The leaders facing the embarrassment may cry foul and the reason for the raids could be malicious - after all, how many such raids have resulted in big men landing in jail? - but for the onlooker there's something satisfying in the process. If the politicians did not cut each other to size who would? Would sons and kin of politicians ever be under scrutiny if the latter operated as a cartel? Vendetta politics has its uses after all; it cannot be all bad.

  • Phishing expedition or real raid?

    In the case of P Chidambaram, the Congress cannot do much but play victim and cry itself hoarse about being selectively targeted by the government. "This is all to create (a negative) perception. Why no raid for three years?" Congress spokesperson Tom Vadakkan asked and the told the media that the BJP government at the Centre had ushered in 'raid raj'.

    Another spokesperson Randeep Surjewala cited such raids on leaders of the opposition as the trait of dictatorial rulers. There was an Enforcement Directorate raid on Karti Chidambaram's properties in later 2015. Nobody knows what came out it. The Congress had called it a 'phising expedition'. Will today's raids be a similar expedition? Stay tuned for more.

  • INX Media case was initiated by UPA in 2010

    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.


    In 2010, the Enforcement Directorate, registered a case under FEMA for alleged diversion of the funds received by the company from three entities in Mauritius without prior approval of the FIPB. The three that came under the ED scanner were were New Vernon Private Equity Limited, New Silk Route and Dunearn Investment.


    But, in 2013, on the eve of Lok Sabha elections, the investigation was called off without any explanation.

  • Chidambaram had once reported INX media to SFIO

    INX media, the company that is being linked to the CBI raid on Chidambaram and his son, 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.

    While the war was on, the sacked journalists had met the then Information and Broadcasting minister Priya Ranjan Dasmunsi and Chidambaram. Reacting to complaints by the sacked staff, Chidambaram had asked the SFIO to look into INX Media's funding and transactions. 

  • 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

  • Is there more to these raids than meets the eye?

    Karti Chidamabaram's company is alleged to have facilitated foreign investment for former promoters of INX Media Peter and Indrani  Mukherjea. The amount involved in this particular case, according to media reports, is a 'paltry' - well paltry, given the financial stature of the Chidambarams - Rs 10 lakh.

    onsidering the idea that the Chidambarams may have have been anticipating CBI raids — or those from other agencies — for a while, why would they be concealing self-incriminating evidence in lockers at home? Not if they not fools. And the Chidambaram household is full of bright lawyers. There could be more to the raids than meets the eye. 

  • 10:46 (IST)

    Congress will fight BJP in this witch hunt, says TN party president S Thirunavukkarasu
     

    Senior Congress leader S Thirunavukkarasu, speaking to Firstpost, said that the BJP at Centre is exploiting leadership vacuum in Tamil Nadu since neither Jayalalithaa nor Karunanidhi are in the mainstream political scene. He also said that BJP will not succeed in this. "They have no base and no cadre here. Congress will fight legal issues legally and political issues politically."

  • 10:45 (IST)

    Why is BJP ordering raids only in Tamil Nadu, asks Congress

    Firstpost spoke to senior Congress leader in Tamil Nadu S Thirunavukkarasar after the sudden CBI raids at Chidambaram's house on Tuesday. When asked, Thirunavukkarasar said that he does not understand why such raids are happening only in Tamil Nadu. The senior Congress leader said that first raids were conducted on AIADMK ministers and now it's Congress' turn.

  • 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."

  • 10:33 (IST)

    Story so far: CBI raids Chidambaram's house; ex-minister issues statement

    - CBI is raiding P Chidambaram's Chennai residence
    - At least 13 other locations – Delhi, Gurugram, Mumbai and Chandigarh – are being searched by CBI officials. However, reports over the number of locations is varying.

    -The raids are purportedly related to a 2007-08 case of FIPB approval given to INX media at the behest of Chidambaram’s son, Karti

    ​-While the clearance granted was only for Rs 4 crore, the actual foreign investment was reportedly much higher
    - An FIR has reportedly been filed against Karti, Indrani Mukherjee and Peter Mukerjea, who owned INX media
    - Chidambaram has accused the Centre of trying to silence his voice and targeting his son in the first statement that he issued after the raids.

  • Why Chidambaram would be more worried about the political fallout

    Raids, as former Finance Minister P Chidambaram would know, don't mean much by themselves.

    There will still be a great distance for the agencies to cover before the charges which led to raids reach the legal conclusion. It's possible he and son Karti would come clean in the end. What would be worrying him most is the politics that would eventually come to fill the gap of time.

    Given the partisan quality of the political discourse of our times he would remain guilty till he is proved innocent. It would not only damage his own image but also ruin that of his party, the Congress. Being a politician he stands to lose much more than his son. Would be interesting to follow how he defends himself from now on.

  • 09:55 (IST)

  • 09:55 (IST)

  • Is there a Sheena Bora connection to the Chidambaram raids?

    Contrary to what was initially assumed, the CBI raids at the Chidambaram residence and 17 other locations across many cities are not linked to the Aircel-Maxis case. These raids have taken place reportedly taking cognisance of Karti Chidambaram's alleged role in the FIPB clearance of INX media channels in 2007-08. This group was owned then by Peter Mukherjea and Indrani Mukherjea, both of who are incidentally in prison in connection with the Sheena Bora murder case. 

    Incidentally, the leads for this raid seem to have emanated from the investigation into the Sheena Bora murder case. The CBI has been probing into the financial transactions of the Mukherjea couple to see if there was a financial motive in committing the murder. It is being suggested by sources that from that investigation, the dots were connected to Karti Chidambaram's alleged involvement. 

    Unconfirmed reports suggest that Karti received kickbacks for the FIPB clearance to INX Media. Any wrongdoing has been denied by Chidambaram, who in a statement has alleged a political attempt to silence his voice by targeting his son. 

  • 09:50 (IST)

    Read Chidambaram's first statement here

  • 09:49 (IST)

    Chidambaram issues first statement

    Accusing the Centre of using central agencies to target Congress leaders, especially son Karti and him, former finance minister Chidambaram issued his first statement after the CBI raids on his home (17 locations). "FIPB approval is granted in hundreds of cases," the statement said. 

    "Every case was processed according according to law and approval was granted or refused in accordance with the recommendations of the FIPB consisting of five secretaries to the Government of India."

  • 09:36 (IST)

    INX media and Karti

    INX media has been embroiled in controversy for a while. CBI recieved the tip-off during Aircel-Maxis investigation. According to various reports, Advantage Strategies Private Ltd, a singapore-based company, allegedly managed by Karti, which help INX media.

  • 09:32 (IST)

    Thank ED for the current CBI raid at Chidambaram's home

    Just when the Congress is getting into a huddle to figure out a way to combat the Modi magic, a blow like this to one of the top leaders of the party can damage the party's reputation. Questions will again be raised whether UPA bent rules during the 10-year-long rule. 

    Reports added that when ED was investigating the Aircel Maxis deal and Karti's role in it, they got hold of these documents pertaining to the current case and passed it on to the CBI. 

  • 09:27 (IST)

    Karti took Rs 90L from INX media in 2008

    According to reports, Chidambaram's son Karti in 2008 took Rs 90 lakh from INX media to get FIPB clearance from his father. Chidambaram was the union finance minister in 2008.

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.

Former Union minister P Chidambaram. AFP

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


Updated Date: May 16, 2017 19:56 PM

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