INX Media case: CBI tells court that finance ministry officials had changed file notings to approve excess FDI

The CBI court in Delhi hearing the INX Media case has taken cognizance on the chargesheet filed by CBI last week. The Central Bureau of Investigation has named former Union Minister P Chidambaram, his son Karti Chidambaram and others in the chargesheet. Charges have been filed under 120B read with 420, 468, 471 IPC and 9, 13 Prevention of Corruption Act in the case that relates to granting of illegal FIPB approvals to INX Media.

A total of 14 entities have been named in the chargesheet, which includes 4 companies and 7 former bureaucrats from the finance ministry. The court has asked P Chidambaram to be produced before the court on 24th October.

During the hearing, the CBI counsel explained the modus operandi of the scam in the INX Media case. When the judge Ajay Kumar asked how cheating was done, the counsel said that notings in the file relating to FIPB approval for the company were illegally changed by bureaucrats in the Finance ministry to favour INX Media.

The bureaucrats had approved excess amount of FDI, and this excess FDI amount was invested into a downstream company without prior permission. The CBI also told the court that after the initial approval for FDI was granted to INX Media, various complaints were received in regards to irregularities committed by the company. As a result, the FIPB board had asked the company to clarify its stand on the issue.

But instead of answering the queries, the company sent the letter to Chest Managerment to prepare a ‘dubious reply’, which was sent to FIPB. Subsequently, the stand of each and every person changed, the CBI counsel said.

Also Read: All you need to know about the INX Media scam

It has also been alleged that Karti Chidambaram’s associate, S Bhaskaraman then raised false invoices for rendering certain professional services to adjust the bribes paid.

Besides P Chidambaram and Karti Chidambaram, others named in the chargesheet are, Karti’s CA S Bhaskararaman, INX Media’s Peter Mukherjea, bureaucrats Sindhushree Khullar, Ajeet Kumar Dungdung, Rabindra Prasad, Pradeep Kumar Bagga, Prabodh Saxena, Anup K Pujari, INX Media Pvt Ltd, INX News Pvt Ltd, Chess Management Services Pvt Ltd and Advantage Strategic Consulting Pvt Ltd. Peter Mukherjea’s wife Indrani Mukherjea is also mentioned, but she has been pardoned in the INX Media as she has turned approver in the case.

Disqus Comments Loading...