INX money-laundering: Karti paid Rs. 1.8cr to influential political leader
What's the story
ED has claimed that Karti Chidambaram, under investigation in the INX money laundering case, paid a senior political leader Rs. 1.8cr in five instalments in over 3.5 years. Investigators suspect a nexus was in play. Yesterday, Karti was confronted with Indrani Mukerjea, INX co-founder, in a Mumbai jail, but he has maintained the allegations against him are "false and politically motivated."
Case
About the alleged INX money laundering case
According to the FIR lodged, INX was approved by the Foreign Investment Promotion Board (FIPB) for investment of Rs. 4.62cr, but actually received Rs. 305cr by sale of shares. When I-T launched a probe, INX allegedly took the help of Karti's companies "to get the issues resolved" by influencing FIPB officials. FIPB was under the Finance Ministry, then headed by Karti's father P Chidambaram.
Data
INX founders alleged they paid Karti Rs. 3.1cr
Indrani and Peter Mukerjea, former INX owners, claimed to have paid $700,000 (Rs. 3.1cr) to Karti for "regularizing the matter" through his Advantage Strategic Consulting Pvt Ltd (ASCPL). The ED has recovered four invoices raised by ASCPL and its Singapore subsidiaries for $700,000 against INX.
Probe
Investigators suspect top political leader was helping Karti
In a "turning point" in the probe, the ED has discovered that Karti transferred Rs. 1.8cr from his account in the Royal Bank of Scotland's Chennai branch to an influential political leader. Investigators said the unnamed recipient has discharged important roles at the Center for decades. After his CBI custody is over, ED will question Karti on the transactions and their business relations.
Status
Karti, Indrani questioned together for four hours in Mumbai prison
Yesterday, Karti was confronted with Indrani, who's in Mumbai's Byculla prison in the Sheena Bora murder case. The two were grilled for four hours while face-to-face, sources said. Karti's lawyer had earlier alleged that Indrani had 'confessed' about payments to him under CBI's pressure. But CBI had denied the accusation, clarifying she wasn't in CBI custody and her statement was permissible as evidence.
Twitter Post
Karti Chidambaram reiterates his innocence
All allegations against me are false and politically motivated: #KartiChidambram being brought back to Delhi from Mumbai by CBI #INXMediaCase pic.twitter.com/I9TqoCvi8l
— ANI (@ANI) March 4, 2018