In a major blow to Karti Chidambaram, a Delhi Court on Monday sent the son of former Finance Minister P…
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In a major blow to Karti Chidambaram, a Delhi Court on Monday sent the son of former Finance Minister P Chidambaram to judicial custody till March 24.
Special Judge Sunil Rana was hearing CBI counsel VK Sharma’s application seeking judicial custody for Karti after his three-day police custody expired. The CBI had sought 15 days custody.
Meanwhile, Karti’s counsel too moved the court seeking bail otherwise the matter was listed for hearing on March 15. He also sought a separate cell in case Karti was sent to judicial custody.
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As the judge pronounced his order, Karti’s father P Chidambaram was also present in the courtroom.
He was remanded in CBI custody for three days after the investigative agency claimed it had recovered some incriminating documents and CD from the Chennai office of Advantage Strategic Pvt Ltd., a company linked to him.
Karti has been in CBI custody for questioning since his arrest from Chennai Airport on February 28.
He was arrested on his return from the United Kingdom in connection with the FIR lodged on May 15 last year. It alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving overseas funds of about Rs 305 crore in 2007 when his father was Union finance minister.
The CBI had initially alleged that Karti received Rs 10 lakh as bribe for the FIPB clearance. It, however, later revised the figure to USD 1 million (about Rs 6.50 crore at the current exchange rate and Rs 4.50 crore in 2007).
The fresh evidence in the case, which triggered Karti’s arrest, was based on the statement of Indrani Mukerjea, former director of INX Media (P) Ltd, who recorded it under section 164 of CrPC before a magistrate on February 17.
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