The CBI on Wednesday questioned Karti Chidambaram, son of former Union Finance Minister P. Chidambaram, for over seven hours in connection with a corruption case involving alleged misuse of foreign funds by INX Media. The agency has summoned him again on August 28, along with three others.
Following the Supreme Court directive last week, Mr. Karti presented himself before the CBI around 10.45 a.m. It is learnt that the agency had prepared more than 100 questions to be posed to him.
Mr. Karti, who came out of the CBI office at 7 p.m., said his petitions in the court spoke for themselves.
ADVERTISEMENT
The CBI has accused Mr. Karti of having received commissions through a company associated with him to scuttle a proposed probe by the Department of Revenue into the allegations against INX Media, then of Peter and Indrani Mukerjea.
The agency alleges that in 2007, INX Media got an approval from the Foreign Investment Promotion Board (FIPB) for a ₹4.62 crore investment, but it received ₹305 crore from two Mauritius-based companies by sale of shares at a premium of ₹800 a unit.
ADVERTISEMENT
Against the FIPB decision, directing the company to file a separate application, a downstream investment of 26% of the foreign funds was allegedly made in INX News.
The CBI had first summoned Mr. Karti and his associates in June. Subsequently, more summons were issued. However, they failed to present themselves before it.
Mr. Karti had petitioned the Madras High Court seeking the quashing of the CBI FIR. However, the court, on Tuesday, asked him to approach the Delhi High Court.
He had also challenged the Look Out Circular issued on the CBI's request to prevent his travel abroad. He got relief from the Madras High Court, but the order was contested in the Supreme Court, which stayed it.
While directing Mr. Karti to appear before the CBI, the court said it would review, on September 1, his plea for cancelling the Look Out Circular.