The INX Media case pertains to the alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance to the media group for receiving overseas funds to the tune of Rs 307 crore at a time when P Chidambaram was the Union finance minister.
The Central Bureau of Investigation (CBI) had registered an FIR on May 15, 2017, alleging irregularities in the FIPB clearance, the Enforcement Directorate (ED) lodged a money laundering case in 2018.
Indrani Mukerjea and her husband Peter Mukherjea, who co-founded INX Media in 2007, had been charged with entering into a criminal conspiracy with Karti Chidambaram, whose father P Chidambaram was the then finance minister, to get foreign investments and evade punitive measures for not having the necessary approvals from the Foreign Investment Promotion Board.
In March, 2018, Indrani Mukerjea told the CBI in a statement recorded under Section 164 of the CrPC that a deal of $1 million was struck between Karti Chidambaram and the Mukerjeas to secure approval from the FIPB in favour of INX Media.
Last month, a Delhi court had allowed Indrani Mukerjea, who is a prime accused in the murder of her daughter Sheena Bora, to turn approver in the INX case.
In her application to turn approver, Mukherjea had prayed for pardon in the case in exchange of full and true disclosure.
Karti Chidambaram was arrested by the CBI in February last year in connection with the INX Media case. Karti Chidambaram was released on bail in March. The Enforcement Directorate has questioned Karti Chidambaram on several occasions in the INX Media case case.
P Chidambaram was also questioned by the ED in January this year and on December 19 last year.
The ED has attached properties worth Rs 54 crore belonging to Karti Chidambaram in connection with the case. The agency also attached properties belonging to Indrani and Peter Mukerjea.
May 15: The CBI files FIR, alleging irregularities in Foreign Investment Promotion Board clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when Karti’s father P Chidambaram was the Union finance minister.
June 16: The Foreigner Regional Registration Officer (FRRO) and Bureau of Immigration, under Union Home Ministry, issues look out circular (LOC) against Karti Chidambaram.
August 10: Madras High Court stays the LOCs issued against Karti Chidambaram and four others holding that they were prima facie “unwarranted”.
August 14: The Supreme Court (SC) stays Madras HC order staying Centre’s LOC issued against Karti Chidambaram.
August 18: The SC asks Karti Chidambaram to appear before the CBI on August 23.
September 11: The CBI tells the SC it has furnished details in a sealed cover on the probe about “possible transactions” in foreign countries and 25 alleged offshore properties of Karti Chidambaram.
September 22: The CBI tells the SC that Karti Chidambaram was prevented from travelling abroad as he was allegedly closing several of his foreign bank accounts.
October 9: Karti Chidambaram seeks the SC’s nod to visit the United Kingdom to get his daughter admitted at the Cambridge University and expresses willingness to undertake that he would not visit any bank there.
October 9: P Chidambaram tells the SC that the BJP-led government has been carrying on a “politically-motivated vendetta” against him and his son.
November 20: The SC allows Karti Chidambaram to visit the UK for daughter’s admission.
December 8: Karti moves SC challenging the summons issued by the CBI against him in the Aircel-Maxis deal case.
January 31: The SC remands back to the Madras HC, the pleas relating to issuance of two LOCs against Karti Chidambaram and others.
February 16: Karti Chidambaram’s CA S Bhaskararaman arrested for allegedly assisting him to manage his “ill-gotten wealth” in India and abroad.
February 28: Karti Chidambaram arrested by the CBI at Chennai aiport and brought to Delhi. Delhi court sends him to one-day police custody.
March 23: Karti Chidambaram gets bail after 23 days in jail.
July 25: The high court grants interim protection from arrest to P Chidambaram.
October 11: The ED attaches assets worth Rs 54 crore of Karti Chidambaram in India, the UK and Spain in connection with the INX Media money laundering case, an action termed “bizarre” by him.
July 11: Jailed-media baron Indrani Mukerjea turned approver in the case. She accepted the conditions put on her before a judge.
August 1: The ED asks Karti Chidambaram to vacate Jor Bagh house in New Delhi, which was earlier attached by the agency.
August 20: Delhi HC rejects bail applications of P Chidambaram.