INX Media case: ED attaches properties belonging to Karti Chidambaram, others

The Enforcement Directorate (ED) on Tuesday attached assets worth ₹11.04 crore belonging to Congress MP Karti Chidambaram and others in connection with alleged INX media money laundering case.

The seized assets include both movable and immovable properties in Karnataka’s Coorg district, according to a statement.

“During investigation, it was revealed that illegal gratification (proceeds of crime) was received directly and indirectly from INX Media Pvt Ltd, to which accused P Chidambaram granted FIPB (Foreign Investment Promotion Board) approval via shell companies controlled/beneficially owned/used by another accused, Karti Chidambaram,” ED said in a statement.

The Congress MP is the son of former Union finance minister and veteran Congress leader P Chidambaram.

The ED investigation started after the Central Bureau of Investigation (CBI) registered a complaint against P Chidambaram where it was contended that he ‘misused his official position’ when he was a Union minister, along with his son Karti, to grant approval to foreign direct investment (FDI) to INX Media and INX News Pvt Ltd in lieu of ‘illegal gratification’ in India through offshore payments. In an FIR, CBI alleged irregularities in the FIPB in allowing INX Media to receive offshore funds to the tune of ₹305 crore in 2007. It led ED to lodge a money-laundering case.

Earlier, the former Union minister was arrested by CBI in the case in August 2019. The ED arrested him in the same year in October. He got bail in both cases.

Karti Chidambaram had earlier alleged that the BJP-led Centre has been carrying out a politically motivated vendatta against his family.