A three-member team of investigators of the Central agency, arrested P Chidambaram under the provision of the Prevention of Money Laundering Act (PMLA). The ED had filed a criminal case under the PMLA in 2017 to probe this deal of alleged irregularities in the grant of FIPB approval to INX Media group.
INX Media got its Foreign Investment Promotion Board approvals in 2007-08 when Chidambaram was Union Finance Minister. The agency will now move into court to seek his fresh custody. It is alleged that this approval was not legal and agencies have charged Chidambaram with committing corruption and money laundering by taking kickbacks from promoters of the media group through his son Karti. The FIPB was scrapped by the Modi Government in 2017.
P Chidambaram has spent about 55 days in CBI and judicial custody till now after he was arrested on August 21 in this case. Chidambaram’s son Karti is also an accused in this case and has been arrested in this case by the CBI in the past.
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