File photo of Karti Chidambaram (Express)
The Supreme Court will hear the anticipatory bail plea of Karti Chidambaram, son of former finance minister P Chidambaram, on March 6 in connection with the INX Media money laundering case. Karti had yesterday moved the apex court seeking a stay on the Enforcement Directorate’s (ED) summons against him in the case.
The top court, however, refused to stay the summons issued by the ED asking Karti Chidambaram to appear before it on March 1 and said he can make a request in this regard to the competent authority.
The apex court was hearing pleas, including the CBI’s appeal, challenging the Madras High Court order staying a lookout circular (LOC) issued against Karti Chidambaram.
The CBI had on September 1 last year said there were “good, cogent” reasons for issuing the LOC. Earlier, a single judge bench of the Madras High Court had stayed the LOC issued against Karti and others in the graft case.
Later, the Supreme Court considered the CBI appeal and stayed the operation of the Madras High Court order staying the LOC.
Karti’s name had cropped up in the case which relates to Foreign Investment Promotion Board (FIPB) approval granted in 2007 for receipt of funds by INX Media when his father P Chidambaram was the Union Finance Minister during the previous UPA regime.
The ED had registered a case of money laundering against Karti under the Prevention of Money Laundering Act (PMLA) in May last year. It has earlier raided properties of his as well. Apart from Karti, Peter and Indrani Mukerjea are also accused in the case.
The ED alleges Karti received money from INX Media, a firm owned by the Mukerjeas, in return for using his influence to manipulate a tax probe against it in a case of violation of Foreign Investment Promotion Board (FIPB) conditions to receive investment from Mauritius.
The ED’s probe is based on an FIR filed by the CBI, which has also raided multiple properties of the Chidambarams.
(With PTI inputs)
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