INX Media case: ED arrests Chidambaram; to produce him in PMLA court today

The Enforcement Directorate (ED) has arrested former finance minister P Chidambaram in connection with INX-Media money laundering case following interrogation in the Tihar Jail on Wednesday morning. 

Senior Congress leader spent 55 days in CBI and judicial custody in the corruption charges in the same case. 

The enforcement agency is likely to produce him in the special PMLA court in the afternoon. 

Sources say that ED requires custodial interrogation to confront the evidence it has come across during the probe.

The ED's special public prosecutors on Friday moved a plea seeking production warrant of the senior Congress leader. On Tuesday, Special court Judge allowed the ED to interrogate Chidambaram in Tihar jail and arrest him, if necessary, in connection with the INX Media money laundering case.

Former FM Chidambaram, in ED custody, will face questions related to kickbacks received by shell companies allegedly floated by Karti Chidambaram when approvals were granted by the erstwhile Foreign Investment Promotion Board (FIPB). 

About two dozen foreign bank accounts have been identified which were used to park kickbacks received from illegal favour granted by the former minister.’’ The ED has established that over Rs 300 crore of deposits were made in one of the shell firms, according to an investigator. 

Sources said that ED is in possession with several emails exchange indicating the communication between the front companies where both senior and junior Chidambaram are the beneficial owners. Besides, Chidambaram may be asked to confront the statements given by at least 13 witnesses in the case including his private secretary. 

Since his arrest on August 21, Chidambaram has till Tuesday spent 55 days in custody, in the CBI as well as judicial, in nine spells. 

Meanwhile, the CBI is all set to file the prosecution complaint, popularly known as Chargesheet in the matter and likely to name Chidambaram as accused.