In connection with the INX media fraud, a Delhi court will decide today whether or not to hear the money laundering case against Congress leader and former Union minister P Chidambaram. The case had been deferred by the Rouse Avenue court until July 9 owing to the corona virus disease (Covid-19) outbreak, which limited the court’s hearings to ‘urgent’ cases.
The lawsuit stems from flaws in a Foreign Investment Promotion Board (FIPB) clearance granted to the INX Media company in 2007 for accepting 305 crore in foreign cash, during P Chidambaram’s tenure as Union Minister of Finance in the Congress-led UPA administration at the time.
On May 15, 2017, the Central Bureau of Investigation (CBI) registered the case. In connection with the case, the sleuths detained the former finance minister two years ago, on August 21, 2019. Later that year, the Enforcement Directorate (ED) arrested Chidambaram in a separate money-laundering case resulting from the iss.
Six days later, on October 22, the Congress leader was granted bail in the CBI case. On December 4, 2019, he was granted bail in the ED case. He was released from Tihar Jail a day later, on December 5, after the Supreme Court approved his bail motion.
P Chidambaram and his son Karti, who was also arrested in the case in 2018 and later granted bail, were called by a Delhi court on April 7 this year, after the ED charge sheet in connection with their alleged role in the INX Media money laundering case was taken note of by the court.
The ED’s charge sheet was filed under the Prevention of Money Laundering Act’s section 3 (money laundering) read with section 70 (corporate offences), which is punishable under section 4 (penalty) of the Prevention of Money Laundering Act (PMLA).