Congress Leader P Chidambaram got an anitcipatory bail today in ED case till Monday, but he will continue to be under arrest as his petition against CBI is posted for August 26 by court. After all, why Chidambaram had to go to jail, let’s examine it

Actually, the entire case is related to INX Media scam. In this, the CBI filed an FIR on 15 May 2017. After this, in 2018, the Enforcement Directorate filed a case of money laundering. In 2007 INX Media received the approval for foreign investment while P. Chidambaram was Finance Minister. The INX company for which foreign investment was sanctioned was owned by Chidambaram’s son. There are allegations that Karti Chidambaram took advantage of his father being the finance minister and also approved illegal investments. Both P. Chidambaram and Karti Chidambaram are accused in the case.

Approval of four crore investment, deposited 305 crore

It is alleged that INX had received approval for only Rs 4.62 Cr for foreign investment in TV news, but about Rs 305 crore foreign investment was brought through alleged rigging. There are also allegations that the money illegally brought was wrongly transferred to other companies. Chidambaram is implicated in both INX Media and Aircel-Maxis 2G scam case. Central investigative agencies ED and CBI seeked custody to interrogate Chidambaram and his son Karti. To avoid arrest, Chidambaram got relief from the High Court in these cases, which increased several times from July last year, but not this time.

Tennis club in Spain with scam’s money, cottages in Britain …?

The Enforcement Directorate alleges that P. Chidambaram’s son has bought a tennis club in Spain, cottages in Britain and properties worth more than Rs 54 crore in India from the alleged scam money. According to the attachment order passed by the ED in 2008, Karti allegedly bought all the above assets with bribe money. Chidambaram’s bungalow worth Rs 16 crore has been attached by the investigating agencies in the case. Not only this, two fixed deposits worth Rs 09.23 crore (Indian Overseas Bank’s Nungambakkam branch in Chennai) and 90 lakh (Advantage Strategic Consulting Pvt Ltd, ASCPL) have also been attached. According to the agencies, Karti’s tennis club in Barcelona is worth about Rs 15 crore.

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