CBI questions Karti Chidambaram in graft case

NEW DELHI: The Central Bureau of Investigation (CBI) on Wednesday interrogated Karti P Chidambram for eight hours in connection with a criminal case of cheating and corruption against him.

Karti, as per directions of the Supreme Court, came to CBI headquarters at around 10:45 am. He was quizzed till 6:45 pm. Karti has been asked to appear again on August 28.

An FIR stands registered against Karti Chidambaram, son of former finance minister P Chidambaram and others on charges of cheating and corruption. Karti and others were booked on charges of receiving commissions through companies such as Chess Management and ASC to scuttle a probe by the Department of Revenue into the allegations.

CBI’s FIR alleged that INX Media got an approval from the Foreign Investment Promotion Board (FIPB) for Rs 4.62-crore investment, but it receivedRs 305-crore foreign direct investment (FDI) by sale of shares at a premium of Rs 800 a unit. It further alleged that Karti influenced FIPB officials “by virtue of his relationship with the then finance minister (Chidambaram)”.