A case of 305 Million(crores) rupees of INX MEDIA.’

Utkarsh Upadhyay

 ‘A case of 305 Million(crores) rupees of INX MEDIA.’


P. Chidambaram accused of allowing foreign investment to INX Media in violation of rules where he took advantage of the clout of being Finance Minister, and accused of making black money white.


INX Media in March 2007 sought permission for foreign investment of Rs. 4.60 Crore with FIPB. After this permission FIPB gave permission for investment but did not allowed investment in another company related to INX News and there was irregularity & P. Chidambaram took advantage of his position.


ED alleges that INX Media took 305 Crore Rupees in exchange for Rs. 4.60 crore in violation of rules and regulations. What the question arises , how the investment has been approved. After the intervention of Income Tax Department, INX Media allegedly bribed Chidambaram’s son Karti to investigate the case. The CBI alleges that Karthi Chidambaram influenced top FIPB officers.


The details of how INX Media obtained the 305 crores which were not sanctioned & were cancelled by FIPB, are as follow:-

INX Media’s Director Indrani Mukherjee told the CBI that Karthi’s company had demanded a bribe them.

Indrani Mukherjee has become a government witness in this case & since then Chidambaram’s difficulties increased in this regard and along with this Karthi Chidambaram also got trapped in it. It is known that P. Chidambaram was the Finance Minister of the country at that period & FIPB was under him.


It is also known that the case is pending in Supreme Court to prosecute Chidambaram , his wife Nalini, Karthi and Karthi’s wife Srinidhi in a case related to black money.


On May 15, 2017 the CBI filed an FIR alleging irregularities in the clearance granted by the FIPB to INX Media. The agency alleged that the company received FDI to the tune of ₹305 crore in 2007, against the approved ₹4.62 crore.


Later, the same month, the Enforcement Directorate (ED) registered a money laundering case against Karti under the Prevention of Money Laundering Act, 2002.


On February 28,2018 , CBI arrested Karti at Chennai airport upon his return to India.


On March 5, 2018 , Karti moves SC challenging the summons made by the ED in the money laundering case.


From March 6 to March 23, 2018 , after a special court sends Karti to 3-day CBI custody and then 12-day judicial custody, he moves the Delhi HC seeking bail in the graft case. On March 23, the Delhi HC grants him bail. He is also granted interim protection from arrest by ED by the Supreme Court on March 15.


On July 11 2019 , Meanwhile, Indrani Mukerjea, who is jailed in the Sheena Bora murder case, turns approver in the INX media corruption case after she moved an application seeking pardon and promising to help in the probe.


On August 1, 2019 , ED asks Karti to vacate his bungalow in New Delhi’s Jor Bagh area, which was also one of the assets attached by the ED.


On August 20, 2019, Delhi High Court rejects Chidambaram’s anticipatory bail plea.


CBI custody


P Chidambaram  was sent to CBI custody till August 26 by a special anti-corruption court in Delhi on August 22, 2019.  Prior to this, the former Union Minister and senior Congress leader was questioned by the CBI for almost four hours in relation to the INX Media corruption case. The CBI officials questioned P Chidambaram  on the process of granting the clearances and his alleged meetings with INX Media Director Indrani Mukherjee and companies Chess Management and Advantage Strategic. Chidambaram is being held at the CBI Headquarters.


Chidambaram Arrested


Former Union Minister was arrested from his Jor Bagh residence in New Delhi by the CBI and ED officials in a high-drama event on August 21, 2019. Though the CBI officials were initially denied entry into Chidambaram ‘s house, they climbed over the walls to initiate the arrest.


Chidambaram’s arrest unfolded in a 55-minute drama, after the Delhi High Court rejected Chidambaram’s bail plea in the INX Media case. Before his arrest, Chidambaram, who had been untraceable for almost 27 hours since Monday afternoon, appeared briefly at the AICC headquarters to address the media on the charges leveled against him.


Chidambaram in his brief media address strongly defended himself, saying that no chargesheet was filed in the case and no FIR was filed against him in the INX Media case. Though CBI officials arrived at the AICC headquarters to arrest him,  Chidambaram had left the venue by then.


When the news broke that the senior Congress leader had returned to his house, a team of CBI immediately reached there but they were denied entry into the house, prompting them to climb over the walls of the property on Aug 21. The theatrics continued for about 55 minutes, after which Chidambaram was escorted out in a CBI vehicle by the CBI officers to the CBI headquarters for questioning in relation to the INX Media case.


Chidambaram was in 4 days of CBI custody till 26th and thereafter it was extended to 30th Aug 2019.


On 5 September 2019, P. Chidambaram was sent to Tihar Jail for a two-week judicial custody, his birthday is on 16th Sept.