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INX Media case

About INX Media case

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What is INX Media case

The INX Media case is related to alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance to media group INX Media receiving overseas funds to the tune of Rs 307 crore during the Congress-led United Progressive Alliance (UPA) government.
 
In January 2008, the Financial Intelligence Unit (FIU-IND) of the finance ministry had flagged a foreign direct investment (FDI) of over Rs 305 crore by three Mauritius-based companies in INX Media Pvt Ltd, then owned by Peter and Indrani Mukerjea. The Income Tax department handed over the case to the Enforcement Directorate (ED), which in 2010 registered a case against INX Media for alleged Foreign Exchange Management Act (FEMA) violations.
 
How Karti Chidambaram came into the picture
 
Around six years later, while investigating a company associated with Karti Chidambaram, ED found documents linked to INX Media. The documents indicated payments were made to Karti’s said company by INX Media at the time the finance ministry granted it FIPB approval. After this, the Central Bureau of Investigation (CBI) registered an FIR on May 15, 2017, alleging irregularities in the FIPB clearance, and ED lodged a money laundering case in 2018.
 
What have Indrani Mukerjea, Peter Mukerjea and Karti been charged with?
 
Indrani Mukerjea and her husband Peter, who co-founded INX Media in 2007, were charged with entering into a criminal conspiracy with Karti Chidambaram, whose father P Chidambaram was the finance minister at the time, to get foreign investments and evade punitive measures for not having the necessary FIPB approvals.
 
In March, 2018, Indrani Mukerjea told the CBI in a statement that a $1-million deal had been struck between Karti Chidambaram and the Mukerjeas to secure FIPB approval in favour of INX Media.
 
In July 2019, Irani prayed for pardon in the case in exchange for full and true disclosure, which the Delhi high court agreed to.
 
Karti Chidambaram was arrested by the CBI in February 2018 in connection with the INX Media case and then released on bail. The Enforcement Directorate has questioned Karti Chidambaram on several occasions in the INX Media case.
 
P Chidambaram was also questioned by the ED in December 2018 and January 2019.
 
The ED has attached properties worth Rs 54 crore belonging to Karti Chidambaram in connection with the case. The agency has also attached properties belonging to Indrani and Peter Mukerjea.
 
On August 20, 2019, P Chidambaram's plea for anticipatory bail in the case was rejected by the Delhi High Court. Former Finance Minister P Chidambaram was arrested by the CBI on August 21 from his residence in connection with the case. Since then, he has been under CBI custody. On September 5, the apex court will pass an order Chidambaram's plea challenging the issuance of non-bailable warrant against him and the subsequent remand orders for custodial interrogation issued by the trial court in the corruption case lodged by the CBI.

Latest Updates on INX Media case

In the pleas before the high court, Chidambaram and Karti, who were represented by senior advocate Sidharth Luthra and advocate Akshat Gupta, have assailed a trial court order refusing to defer the

Updated On: 18 Nov 2024 | 5:40 PM IST

Delhi High Court issued notice to former Union Minister P Chidambaram, his son Karti Chidambaram and others on a petition filed by the Enforcement Directorate against an earlier trial court order

Updated On: 25 Mar 2022 | 4:27 PM IST

The court had earlier granted interim bail to Mukerjea till the pendency of his regular bail application

Updated On: 04 Dec 2021 | 4:51 PM IST

A court in Delhi sought the response of the ED on an application moved by former Union Minister P Chidambaram

Updated On: 24 Jul 2021 | 3:17 PM IST

The Delhi High Court on Tuesday stayed trial court proceedings in the CBI's INX Media corruption case involving Congress leader P Chidambaram and his son Karti

Updated On: 18 May 2021 | 12:08 PM IST

A Delhi Court on Wednesday granted exemption from personal appearance to former union minister P Chidambaram and his son Karti for the day in the INX Media scam related money laundering case

Updated On: 07 Apr 2021 | 2:19 PM IST

Karti used to consult his father regarding matters related to a company "beneficially owned" by him in the past

Updated On: 25 Mar 2021 | 6:20 PM IST

ED chargesheet revealed that Rs 65 crore worth of properties involved in money laundering by Advantage Strategic Consultancy Pvt Limited (ASCPL).

Updated On: 24 Mar 2021 | 10:06 PM IST

A Delhi court Wednesday issued summons to former Union minister P Chidambaram and his son Karti in the INX Media money-laundering case

Updated On: 24 Mar 2021 | 5:44 PM IST

In August 2019, the CBI had arrested former finance minister P Chidambaram. Subsequently it had filed a chargesheet against him and 13 others

Updated On: 08 Feb 2021 | 9:47 PM IST

The apex court had on October 22 last year granted bail to Chidambaram in the case saying he was neither a "flight risk" nor was there a possibility of "his absconding from the trial"

Updated On: 04 Jun 2020 | 9:52 PM IST

A password protected e-chargesheet was filed against Chidambaram, his son Karti and others before the court of Special Judge Ajay Kumar Kuhar

Updated On: 02 Jun 2020 | 11:26 PM IST

The court had earlier reserved its order on bail applications moved by six bureaucrats who were part of the FIPB panel which granted approval to INX Media, in a case involving former FM P Chidambaram

Updated On: 19 Feb 2020 | 4:31 PM IST

The Chidambarams were present in the court

Updated On: 18 Feb 2020 | 3:55 PM IST

The investigating officer of the case recorded the statement of Karti, a Congress MP from Tamil Nadu's Sivaganga, under the Prevention of Money Laundering Act (PMLA).

Updated On: 20 Jan 2020 | 10:33 PM IST

Chidambaram's statement was recorded under the Prevention of Money Laundering Act (PMLA), they said

Updated On: 03 Jan 2020 | 6:38 PM IST

The high court order denying anticipatory bail to Chidambaram in the INX Media corruption case proved costly for him as he was arrested by the CBI the very next day

Updated On: 30 Dec 2019 | 5:49 PM IST

Former Union finance minister P Chidambaram and his son Karti are the main accused in the case, apart from Mukerjea, a former media baron and founder of the company

Updated On: 11 Dec 2019 | 2:58 AM IST

The former Minister, who spent 106 days in Delhi's Tihar jail, however, did not explicitly mention the case against him filed by the Enforcement Directorate or the CBI

Updated On: 07 Dec 2019 | 8:28 PM IST

Javadekar also took potshots at Chidambaram for his comments on Kashmir that stating there is no "freedom" in the Valley

Updated On: 05 Dec 2019 | 5:17 PM IST