Homes of P. Chidambaram and Son Karti Searched in Financial Misconduct Probe

"All the issues relevant to this FIPB approval will be investigated". "All people whose involvement comes forth will be probed", he added.

Peter Mukerjea knew of the conspiracy, investigators have said. The firm generated over Rs 305 crore Foreign Direct Investment against the approved inflow of Rs 4.62 crore by issuing shares to foreign investors at a premium of more than Rs 800 per share.

The CBI says Karti dir-ectly owns Chess Management Services, while he indirectly controls Advantage Strategic Consulting Limited.

The ED conducted searches in the premises of Advantage Strategic Consultants Private Limited and others.

He added that invoices of Rs 3.05 crore have also been recovered by the agency.

Taking aim at the BJP, leaders across the political divide have described the CBI raids targeting Karti Chidambaram, the son of former Union Finance Minister P. Chidambaram, as politically motivated. Both Chidambaram and his son denied there was any misconduct on their part and said the whole action was aimed at "muzzling" the voice of Chidambaram senior, who has been writing against the NDA government.

Stalin, who spoke to the media at DMK headquarters after a meeting of MLAs said "I reiterate my allegations against the CBI and Income-Tax department".

"I am not following the events and I have no memory and no comments", said Ajay Shanker, former secretary of the Department of Industrial Policy and Promotion (DIPP), who was one of the members of the FIPB that examined and recommended for approval the FDI proposal of INX News in October 2008. And Karti has been involved for facilitating this deal for Rs 35 lakh.

As per sources, Karti accepted a huge amount of money as bribe in lieu of the favour rendered to the private company.

Meanwhile, as the CBI also raided the Worli (Mumbai) home of former media barons, Peter Mukherjea and his wife Indrani, both now in jail facing a murder trial.

The agency's move comes a day after it filed an FIR against Karti Chidambaram and Indrani Mukherjea in the case.

A spokesperson of the Central Bureau of Investigation (CBI) told the BBC that the agency was conducting searches in the southern city of Chennai (Madras).

The agency raided at 14 places in Chennai, Mumbai and Gurgaon in connection with this case today including homes of the former finance minister and his son.

INX Media claimed that the investment was done as per FIPB conditions. INX allegedly did not have to pay a penalty to the FIPB.

Chidambaram said in his statement that neither he nor FIPB officials were suspected of wrongdoing.

The concurrence to the "proposed investment" which had already been made without the approval of the Finance Ministry shows the malafide and dishonest intention on the part of Finance Ministry officials.

Related News:

  • Hostages freed from mosque in Central African Republic

    Hostages freed from mosque in Central African Republic

    The armed men also attacked the Muslim neighbourhood of Tokoyo where numerous civilians were killed and others wounded. The Council called on the Government to swiftly investigate this attack and bring the perpetrators to justice.
    Log in, look out: Cyber chaos spreads with workweek's start

    Log in, look out: Cyber chaos spreads with workweek's start

    A group known as Shadow Brokers released Eternal Blue along with a collection of hacking tools from the spy agency last month. The NSA exploit was pared with a so-called worm that can spread with very little action on the part of the computer's user.
    Refurbished Galaxy Note7 shows up on retailer's website

    Refurbished Galaxy Note7 shows up on retailer's website

    Note 8 is now highly anticipated with a dual-camera setup on the backside of the smartphone, and rumors have also suggested so. Furthermore, the Galaxy S8 was the most breakable smartphone put through dropping and tumbling tests conducted by the insurer.
  • Fox News' Guilfoyle up for White House press secretary job

    Fox News' Guilfoyle up for White House press secretary job

    Guilfoyle is even talking about Spicer as if he is already gone: " Sean Spicer is a very nice man and a patriot". On her relationship with Trump, Guilfoyle states, "I think I have a very good relationship with the president".
    Man Utd coach Mourinho admits winning Europa League is top priority now

    Man Utd coach Mourinho admits winning Europa League is top priority now

    At the Emirates, Mourinho gave a Premier League debut to Axel Tuanzebe, saying he was delighted by the 19-year-old's performance. But watching Mourinho afterwards, it was probably the first time in about six months that I have seen him relaxed and smiling.

    #WithFewExceptions Is The Newest Meme To Troll Donald Trump About Russia

    Trump has often said he can't release his tax returns because he is under an IRS audit, although he has yet to show proof of it. Moments later in the interview , he suggested he would never release the returns because he is being audited.
  • Eddie Lacy earned $55K for weighing less than 255 pounds today

    Eddie Lacy earned $55K for weighing less than 255 pounds today

    As ESPN reported in March, Seattle wanted Lacy to reach 255 pounds in May and 250 pounds in June. He looks great", Seahawks coach Pete Carroll said when he joined "Brock and Salk" on Monday.
    Delta wants you to scan your face at the Minneapolis airport

    Delta wants you to scan your face at the Minneapolis airport

    Passengers without passports can still check their own bags, but they need a Delta agent to confirm their identities. The Atlanta-based carrier is spending $600,000 to test a new self-service bag drop system at MSP this summer.
    Do you agree with Sessions' get-tough approach?

    Do you agree with Sessions' get-tough approach?

    While Trump has promised to be tough on crime, ideas like this will only make the problems in our system worse. You know, Attorney General Sessions has a much higher obligation.
  • Callista Gingrich likely to be named ambassador to Vatican

    Callista Gingrich likely to be named ambassador to Vatican

    She has no experience at all in diplomacy, like virtually everyone else Trump has nominated for such positions. The two have been fascinated by the papacy, producing a documentary about Pope John Paul II in 2010.

    Durant scores 38 points, Warriors beat Jazz to take 3-0 lead

    The Jazz were contesting shots well, and allowed to play some physical defense. and the only one hurting Utah was Kevin Durant. It seized the lead for the first time in the series when it went up 48-47 in the second period, and led 50-49 at half-time.
    North Korea claims US 'biochemical' plot to kill Kim Jong Un

    North Korea claims US 'biochemical' plot to kill Kim Jong Un

    North Korea regularly lashes out at the US and South Korea , though the allegations lodged Friday were more specific than usual. Kim has continued North Korea's nuclear weapons program in spite of worldwide pressure to shut it down.


Most liked

Putin sits down at piano in China, plays Soviet songs
The piano performance was no different, with many on social media tweeting about the video and suggesting someone tune the piano. Putin, 64, was a child and the Soviet Union was emerging from the shadow of Stalin, who died in 1953.

Caps Force Game 7, Beat Pens 5-2
The Capitals appeared on the verge of another exit at the hands of the Penguins going into the third period of Game 5. In a race for the puck in front of Braden Holtby , Crosby got swept up in front of John Carlson and Patric Hornqvist.

GIC sells part of UBS stake at loss
The Swiss bank was also involved in the billion-dollar graft probe into 1MDB, which is roiling Singapore's financial center. In the past year, GIC has embarked on a series of leadership changes and elevated many investment managers to key roles.

Hackers demand ransom over 'stolen Disney movie'
While governments of various countries of the world deal with the problem, Disney has landed in deep trouble with online hackers. Well, all we can do is just wait and see if Dead Men Tell No Tales will open in theatres or on the internet.

Tillerson: Trump weighs embassy move impact on Mideast peace
As a presidential candidate, he had threatened to move the USA embassy to Jerusalem , but nothing has materialised as of now. European and Arab allies of the United States have also advised against moving the embassy, saying it could lead to unrest.

Giroud double helps Arsenal beat Stoke 4-1 in Premier League
In the games like that when you go to Stoke you need at some stage to suffer, to stick together and that's what we did. But the Reds remain in pole position to finish in the top-four after beating West Ham in the capital.

Windows Store To Support iTunes Soon
Clipboard syncs your clipboard content across devices over the cloud, allowing you to copy on one device and paste on another. The announcements were made at the Microsoft Build 2017 conference held in Seattle on 10-12 May.

FTSE 100 hits all time high as oil prices climb
MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.7 percent higher, while Japan's Nikkei lost 0.07 percent. The FTSE 100 Index reached a mid-session record of 7460.2 in early trading, before closing at an all-time high of 7,454.37.

China's Xi urges restraint on N. Korea in call to Duterte
As reported on May 1 by The New York Times , the initiative of the USA president was a complete surprise for these departments. Priebus made clear that North Korea was the top priority. "I'm tied up", he told reporters Monday in southern Davao city.

Texas Southern University Cancels Republican Sen. John Cornyn's Commencement Speech
Three other people are expected to interview Saturday with Attorney General Jeff Sessions and his deputy, Rod Rosenstein. The latest Texas news from The Associated Press.

Quintana takes Giro lead as crash affects other
The climb lasted 13 kilometers (eight miles) at an average gradient of nine percent with stretches at 14 percent. Britain's Geraint Thomas finished six seconds behind the Quick-Step Floors rider retaining his second place.

Melissa McCarthy adds spice (and Spicer) as host of 'SNL'
Melissa McCarthy and Alec Baldwin have returned to Saturday Night Live , and it might be our favourite sketch yet. The press secretary whips out a Matryoshka doll set to explain why Comey had to go . "Here's Trump .

Slaven Bilic hoping West Ham can follow up Tottenham win against Liverpool
The former has scored goals and tormented West Ham in the past and it's an experience Liverpool should look to pounce upon. Philippe Coutinho (Liverpool): Two goals and an assist crowned one of his best performances since his return from injury.

Whirring, Purring Fidget Spinners Provide Entertainment, Not ADHD Help
Some manufactures claim they can benefit children with disorders like ADHD, but some teachers want them out of the classroom. Kollins says that there's been no research shown that proves fidget spinners are effective at addressing those issues .

Snap shares tank 23 percent after reporting $2.2 billion net losses
On average, analysts were expecting first-quarter revenue of about $169 million, but Snap reported revenue of just $150 million. William Blair reissued their outperform rating on shares of Snap Inc (NYSE: SNAP ) in a report released on Thursday morning.