Madras HC sets aside CBI's lookout circular on Karti Chidambaram

CHENNAI: More than a year after the CBI issued a look out circular (LOC) against former Union minister P Chidambaram's son Karti Chidambaram, the Madras high court has set aside the circular saying LOC had adverse civil consequences.

"The LOC was issued in haste when the conditions precedent for issuance of such circular did not exist. The LOC is, thus, liable to be set aside," said the first bench of Chief Justice Indira Banerjee and Justice Abdul Quddhose. The judges, however, made it clear that the order would not impact criminal proceedings against Karti Chidambaram pursuant to the FIR field by the CBI.

The issue pertains to alleged irregularities in the FIPB clearance to INX Media for receiving overseas funds to the tune of 305 crore in 2007 when Chidambaram was union finance minister.