New Delhi, February 27: The Enforcement Directorate (ED) has submitted the prosecution approval order against former Union Finance Minister P. Chidambaram to the Rouse Avenue Court. This order is related to the money laundering case involving INX Media Private Limited.
The ED initiated its investigation under the Prevention of Money Laundering Act (PMLA), 2002, based on an FIR filed by the CBI on May 15, 2017. The FIR named INX Media Private Limited, INX News Private Limited, Karti P. Chidambaram, and others under various sections of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988.
The investigation revealed that during P. Chidambaram’s tenure as Finance Minister, INX Media Private Limited received approval from the Foreign Investment Promotion Board (FIPB). Allegations suggest that illegal funds were demanded and received in exchange for granting and regularizing this approval.
According to the investigating agency, these illicit funds were acquired through companies directly or indirectly controlled by Karti P. Chidambaram. The ED claims that these amounts were layered through shell companies and later invested in shares of Vasan Healthcare Private Limited and AGS Healthcare Private Limited. Subsequently, these funds were increased through share sales and foreign investments.
The investigation also indicated that Karti P. Chidambaram and his close associates allegedly contacted individuals linked to INX Media regarding FIPB approvals, collecting income generated from the alleged crime.
These funds were allegedly moved through complex financial transactions across multiple jurisdictions, lacking any legitimate business purpose. Structured transactions were conducted to conceal the source of the funds, which were then used for investments in real estate and bank deposits both in India and abroad.
The ED estimates the total proceeds of crime in this case to be approximately ₹65.88 crore. Of this, ₹53.93 crore and ₹11.04 crore have been provisionally attached under the PMLA. Both attachment orders have been confirmed by the competent authority.
On June 1, 2020, the ED filed a prosecution complaint in the Rouse Avenue Court under sections 44 and 45 of the PMLA, along with sections 3 and 4. The court took cognizance of the case on March 24, 2021, naming P. Chidambaram, Karti P. Chidambaram, and eight other individuals/entities as accused. A supplementary prosecution complaint was filed on December 16, 2024. The ED is actively working to expedite the hearing of this case.
On November 6, 2024, the Supreme Court ruled in the case of ED vs. Vibhu Prasad Acharya, stating that the requirement for prosecution approval under section 197(1) of the Criminal Procedure Code also applies to complaints filed under section 44(1)(b) of the PMLA, 2002.
Following this ruling, several defendants challenged proceedings in judicial forums, causing delays in cases. To comply with the Supreme Court’s directives and to address delays in hearings, the ED has expedited the process of obtaining prosecution approval in cases involving public servants.
In this context, on February 10, 2026, the ED obtained prosecution approval against P. Chidambaram from the competent authority, along with an order under section 197 of the Criminal Procedure Code, 1973. The ED has now presented this prosecution approval order before the Rouse Avenue Court to expedite the hearing of the case.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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