INX Media Case: ED files chargesheet against P Chidambaram

The Enforcement Directorate (ED) filed its first chargesheet against former finance minister P Chidambaram in the INX Media case. Top ED sources have confirmed to Republic TV that the chargesheet against P Chidambaram and his son Karti Chidambaram was filed on Monday and the court is yet to take cognisance of the same.

INX Media money-laundering case

The chargesheet has been filed against former finance minister P Chidambaram, his son Karti Chidambaram, and his chartered accountant SS Bhaskar Raman. After Delhi High Court rejected his anticipatory bail plea, P Chidambaram was arrested by Central Bureau of Investigation last August. Later in October 2019, ED arrested him in the related money-laundering case.

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The agency maintains that Karti Chidambaram's companies were paid around Rs 3 crore INX Media co-founder, Peter Mukerjea. This money was allegedly paid at the behest of the former union minister in exchange for FIIPB approval to INX Media. Republic TV had earlier exclusively accessed the statements of Indrani Mukherjea and  Peter Mukherjea in the INX media deal. Indrani Mukherjea told the agency that Karti Chidambaram wanted $1 million transferred in an overseas account. Indrani admitted that she met P Chidambaram at his office chamber in North Block along with a top journalist who had fixed the meeting. Peter and Indrani had submitted an application to bring in FDI for their new venture. Indrani claims that after going through the application, P Chidambaram told Peter to help his son Karti in his business in lieu of FIPB approval. "In 2008, they came to know about the alleged irregularities… Peter said that the alleged violations can be regularized with Karti Chidambaram's help and advice as his father was then Finance Minister," read Indrani Mukherjea's statement to ED.

Peter and Indrani allegedly met Karti Chidambaram in a hotel in Delhi. According to the agency, Karti demanded $1 million dollars to sort out the matter. Peter declined to do overseas transfer. But Karti suggested names of two companies — Chess Management and Advantage Strategic — as alternatives to make the desired payment. The companies would present themselves as consultants to INX media Pvt Ltd. The payments were handled by Peter.

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Peter admitted that he met former Finance Minister P Chidambaram along with Indrani Mukherjea. "The meeting was to seek the Minister's blessings," told Peter Mukherjea to ED. "P Chidambaram had asked for his son's business interests to be kept in mind, if any opportunity arose and for making overseas payments," said Peter Mukherjea. Peter paid the money to Advantage Strategic Consulting Pvt Ltd. "The amount of Rs 10 lakh paid to ASCPL by INX media was part of $1 million demanded by Karti Chidambaram."

Four invoices were raised:

1. Geben Trading Ltd., Greece dated 26.9.2008 for USD 500,000 payable at Geneva Switzerland.
2. Northstar software Solutions Pvt. Ltd. dated 26.9.2008 for Rs. 60 lakh .
3. ASCPL dated 22.9.2008 for Rs. 35 lakh.
4. Advantage Strategic Consulting Singapore Pte. Ltd. dated 24.9.2008 for USD 20,000.

The agency in February 2019 attached properties worth Rs 54 crore belonging to Karti in Spain, UK and India.

(Picture credit: PTI)

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