ED seeks prosecution of Chidambaram in INX, Aircel-Maxis cases
The Enforcement Directorate (ED) is seeking to prosecute former finance minister P Chidambaram, while his son Karti is an accused in the cases, over alleged money laundering in the Aircel-Maxis and INX Media cases.
The agency says the Aircel-Maxis FDI was $800 million ( ₹3,565.91 crore), which ED says exceeded the ₹600 crore threshold Chidambaram was competent to approve, and that FIPB approval was granted to INX Media during Chidambaram's tenure.
Karti is accused of receiving ₹1.16 crore via consulting firms (Advantage Strategic Consulting Pvt. Ltd. and Chess Management Services Pvt. Ltd.) in the Aircel-Maxis matter.
Both father-son have denied any wrongdoing
According to the ED, around ₹65 crore from the INX Media deal was laundered through shell companies linked to Karti, then invested into healthcare businesses.
Authorities have already frozen nearly ₹65 crore worth of assets connected to these transactions.
After a Supreme Court ruling clarified that prosecution needs official sanction, permission was granted last month, and the case is now before a special court in Delhi.
Both Chidambaram and Karti have denied any wrongdoing throughout the investigation.