INX Media case: Karti Chidambaram seeks SC permission to travel overseas

INX Media case: Karti Chidambaram seeks SC permission to travel overseas

This was opened in June 2016, he also said. It is because of my father's and my political affiliation I am being subject to such rigorous scrutiny. However, he said that his family has only one overseas property, which was acquired by transfer of funds through nationalised bank in India under the RBI's LRS by following due process of law. He also stated that the banks in the United Kingdom have strict laws for opening bank accounts for "Politically Exposed Persons" and because of his father's political clout, they were subjected to rigorous scrutiny by the global banks.

A three-judge bench presided over by Chief Justice Dipak Misra made a decision to settle the legal issue after senior advocate Kapil Sibal, representing Karti Chidambaram, opposed the CBI's attempt to bring to the court's notice some materials collected to justify its circular against him.

"I categorically state once again that all my assets are lawfully acquired and are disclosed in all my statutory filings", he told the top court in an affidavit filed on Monday. He told the Supreme Court that the said account was opened in the Metro Bank only in 2016 and a linked sub-account was opened later. So, if Karti dur ing the proposed foreign vis it tampers with any account or property, they would have further cause to prosecute him.

Karti Chidambaram, son of former Finance Minister P. Chidambaram, on Wednesday expressed his willingness not to go overseas so that the Supreme Court could decide, once and for all, the legality of the lookout circular issued against him by the government.

This is in clear contradiction to what Karti, had tol d the agency-that he had just one account. The case against Karti pertains to an FIR lodged by the CBI on May 15, alleging irregularities in Foreign Investment Promotion Board (FIPB) clearance to INX Media, which was then run by Peter Mukherjea and his wife Indrani Mukherjea, for receiving overseas funds to the tune of '305 crore in 2007.

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The CBI while defending the circular said that it has ample evidence to show the properties and accounts that Karti Chidambaram holds overseas. "The FIR in the INX Media case is a politically motivated FIR meant to embarrass and humiliate me and the members of my family", Chidambaram added.

They also said I have bank accounts overseas.

The ongoing case pertains to allege that Karti illegally took service charges for getting the FIPB clearance to INX Media for receiving funds from overseas worth Rs 305 crore in 2007, when his father P Chidambaram was the finance minister in Congress-led United Progressive Alliance's rule.

In a brief order the court said in the course of hearing the ASG wanted to rely on certain documents in a sealed cover and this was opposed by Mr. Sibal, who argued that the documents relied on by CBI could not be examined if the copies are not given to the petitioner. However during the questioning the CBI did not ask me one question about it, he also submitted.

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