INX case: SC refuses Karti Chidambaram protection from arrest
What's the story
The SC has refused to grant interim protection from arrest by the Enforcement Directorate (ED) to Karti Chidambaram in the INX money laundering case.
Karti, son of former finance minister P Chidambaram, is presently in CBI custody, which ends today.
The court has now sought a response from the ED on Karti's petition. The case will be heard next on March 8.
Case
About the alleged INX money laundering case
According to the CBI's FIR, 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.
History
Karti has 'categorically denied' any wrongdoing
In May 2017, the ED had registered an Enforcement Case Information Report (ECIR), an equivalent of a police FIR, against Karti, INX Media and its former directors Peter and Indrani Mukerjea.
Karti was accused of criminal conspiracy, cheating, seeking to influence a public servant, and criminal misconduct.
He has "categorically denied" any wrongdoings, but reportedly has been detaching himself from suspicious properties/accounts.
ED
ED planning to grill Karti after CBI custody ends
Karti was first grilled by the ED in January. He had challenged its summons, arguing the ED had no right to summon him based on CBI's FIR.
But the court rejected his petition after the CBI contended it was "a guise for an anticipatory bail plea."
After his CBI custody is over, ED plans to question Karti on certain transactions and business relations.
Status
SC to hear petitions on registration of FIR in corruption
Meanwhile, CBI confronted Karti with Indrani, who's in Mumbai's Byculla prison in the Sheena Bora murder case.
They were grilled for four hours while face-to-face, sources said.
ED has also alleged that he paid a senior political leader Rs. 1.8cr for assistance in the laundering.
The SC is still to hear petitions on the registration of FIR in the case.