CBI tells SC there are ‘good, cogent reasons’ for lookout circular against Karti Chidambaram in FIPB clearance case

The Central Bureau of Investigation (CBI) will produce an interrogation report from Karti Chidambaram, son of former Finance Minister P Chidambaram, in the case of the approval of the FIPB (Foreign Investment Promotion Board) before the Supreme Court on 11 September.

The agency told the apex court that there were “good and compelling reasons” for the circular of observation that was issued against Karti in the case.

Karti was interviewed by the IWC for the second time on August 28 as part of a relationship with INX Media, which was approved by the IFB when Chidambaram was the Minister of Finance.

The agency examines Karti as part of the FIPB authorization granted to INX Media to receive funds from Mauritius.

The IWC claimed that a company “indirectly controlled” by Karti had received from INX Media, led by Indrani and Peter Mukerjea in 2007.

Three suspected associates of Karti – Bhaskar Raman, Ravi Vishwanathan and Mohanan Rakesh – were also questioned.

The Supreme Court of Madras had refrained from granting the indictment to Karti, who requested the annulment of the FIR filed by the CBI in the case.

Judge P Velmurugan ordered the judicial record to forward all documents of the case to the petitioner so that he could petition the Delhi High Court, which has oversight of the matter.

During the request of the petition challenging the call, the Government issued a “Prospective Circular” against Karti and was later suspended by the High Court.

However, on August 14, the Supreme Court suspended the High Court’s appeal order, after finding that Karti had not joined the investigation in the case.

Leave a Reply