Former Union finance minister P Chidambaram told the Supreme Court that the BJP-led government has been carrying on a "politically-motivated vendetta" against him and his son.
The apex court was hearing CBI's appeal challenging a Madras High Court order staying the Centre's look out circular (LOCs) against Karti and others in an alleged graft case over irregularities in Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007.
File image of P Chidambaram. PTI
Chidambaram and his son Karti, facing the criminal probe, have filed separate affidavits in the apex court alleging vendetta. "Since the NDA government came to power, the central government has been carrying on a politically motivated vendetta against my family and especially my son. The agencies of the Central government have not spared the friends of the first respondent (Karti) or even persons remotely connected with him," Chidambaram said.
He also said the FIPB that dealt with the proposal of INX Media Ltd was chaired by D Subba Rao, who later became RBI Governor, and was succeeded by Ashok Chawla who later became Chairman of Competition Commission of India.
"The other members of FIPB, at the relevant time, were equally distinguished civil servants," he said. "The FIR in the INX Media case is a politically motivated FIR intended to embarrass and humiliate me and the members of my family," Chidambaram added.
Karti Chidambaram also sought permission to travel to the United Kingdom to admit his daughter for higher studies in Cambridge. Karti, in his affidavit, responded to CBI's allegation that he has multiple accounts and assets abroad, saying his family owns only one asset abroad which was acquired by transfer of funds through nationalised banks under the RBI's liberalised remittance scheme.
'Have one overseas property'
According to a report in The Times of India, Karti said: "My family has only one overseas property, which was acquired by transfer of funds through nationalised banks in India under the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India by following due procedure. This asset is recorded in our books of account and is reflected in our statutory filings (including those before the income tax authorities of India). I categorically state that my family has no other overseas property."
File image of Karti Chidambaram. CNN-News18
Karti added that he stood by his father's statement that if there was any other property, the government was free to take over it, The Times of India reported.
Karti also refuted the CBI's claim that he had 25 undisclosed bank accounts, adding that he only had one account in the UK's Metro Bank, which was opened in 2016 and has not received any remittance from anyone except him, his wife and daughter. He also stated that the banks in the UK have strict laws for opening bank accounts for 'Politically Exposed Persons' and because of his father's political clout, they were subjected to rigorous scrutiny by the international banks.
'CBI claims unjustified'
The Financial Express reported that Karti said that the only banking activity he conducted during his visit to the UK, post registration of FIR by the CBI related to two accounts that were maintained by him with Metro Bank, and subsequent access to banking facilities due to unilateral decision taken by the Metro Bank to close the accounts after complying with all statutory and KYC norms.
“Therefore the aspersions made by the CBI are completely unjustified, and are evidently an attempt to tarnish my name and reputation in the public domain”, apart from the Lookout Circular (LOC) issued to curtail fundamental right to travel aboard, Karti said, adding that the oral statements made by the CBI counsel “ostensibly linking these accounts in the UK to alleged transactions that occurred by certain entities named in the FIR is preposterous and defies logic,” The Financial Express reported.
The CBI FIR, lodged on 15 May, had alleged irregularities in FIPB clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when Karti's father was the finance minister.
On 4 October, the CBI had alleged in the apex court that Karti had "tampered" with evidence relating to an alleged graft case against him during his visits abroad in the months of May, June and July this year.
The agency had said that there was a need to issue a LoC against Karti as he had the "potential" to tamper with the evidence and he had done this during his visits abroad. CBI had last month told the apex court that Karti was prevented from travelling abroad as he was allegedly closing several of his foreign bank accounts. The CBI's contention was strongly refuted by Karti's counsel.
The top court is hearing the CBI's appeal challenging the Madras High Court order staying the government's LOC against Karti in the alleged graft case.
With inputs from PTI
Published Date: Oct 10, 2017 07:39 am | Updated Date: Oct 10, 2017 07:39 am
