New Delhi, Aug 22 (BAN/CD): Indrani Mukherjea and Peter Mukherjea, heads of INX media claimed in their statement to the Central Bureau of Investigation(CBI) and the Enforcement Directorate(ED) that when they met P Chidambaram (then a finance minister) in his North Block office in 2006, he asked them to meet his son - Karti and suggested that they help him in his business, according to Hindustan Times.
The statement by the two promoters of INX media has been crucial in the implication of Chidambaram. The statement submitted by the Enforcement Directorate(ED) says the two promoters and a senior company executive had approached Chidambaram for Foreign Direct Investment Approval (FDIA) after the Foreign Investment Promotion Board (FIPB) rejected their request for a stake sale to the tune of 26 percent, News18 reports.
The former finance minister cleared it for a sale of Rs 4.62 crore only.
According to Indrani's statement, the request was approved on the condition that Peter help Chidambaram's son Karti in his business and make possible overseas remittances in lieu of the FIPB approval.
According to Times of India, Indrani, who is serving time after being accused of murdering her daughter Sheena Bora, had refused to say how much money was exchanged in this matter.
But after the Income Tax unit got wind of this sale and irregularities that helped INX Media generate Rs 305 crore in the foreign direct investment (FDI), the company got in touch with the finance minister's son Karti to help resolve the issue.
An FIR filed in 2017 says, Karti Chidambaram advised INX Media to explain the investment as having been cleared by FIPB and that the excess "foreign inflow was justified as premium received.”
In her statement, Indrani had also said that she met Karti in a Delhi hotel and offered $1 million to sort the matter.
The two reportedly agreed to settle the amount at Rs 3.5 crore, which was paid to Advantage Strategic, a company Karti owns through a subsidiary.