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CBI seeks govt sanction to prosecute Chidambaram in INX Media case
The Central Bureau of Investigation (CBI) has sought sanction from the Centre to prosecute senior Congress leader and former Union finance minister P Chidambaram in the INX Media case, said agency officials with knowledge of the matter.
The Central Bureau of Investigation (CBI) has sought sanction from the Centre to prosecute senior Congress leader and former Union finance minister P Chidambaram in the INX Media case, said agency officials with knowledge of the matter.
“The sanction has been sought under the Prevention of Corruption Act, since the matter pertains to the period when Chidambaram was holding the charge of Union finance minister,” said an official who spoke on the condition of anonymity.
INX Media was promoted by Peter Mukerjea and his wife Indrani, who are now facing trial as accused in the murder case of their daughter Sheena Bora.
The CBI in its FIR had alleged that INX Media was allowed an investment of Rs 4.62 crore by the FIPB in 2007. But the company allegedly received Rs 305 crore by way of foreign direct investment and made further investment called “downstream investment” (in another Indian company) in INX News, although FIBP, while allowing an investment of Rs 4.62 crore had clearly stated that the downstream investment in INX News would require a separate clearance.
The agency alleged that INX Media showed that it issued shares to foreign investors at a premium of more than Rs 800 per share to justify an investment of Rs 305 crore. The clearance came when Chidambaram was finance minister.
Chidambaram didn’t reply to a text message sent on this matter, but following his questioning in the case he stated there were no allegations against him in the case.
