SC stays Madras HC’s order staying lookout circular against Karti Chidambaram

The case is related to alleged discrepancies in the Foreign Investment Promotion Board clearance to INX Media for receiving overseas funds when Karti's father was the Union Finance Minister in 2007.

By: Express Web Desk | New Delhi | Published: August 14, 2017 4:12 pm
 karti chidambaram, karti chidambaram corruption case, supreme court, CBI, karti chidambaram lookout circular, union home ministry, p chidambaram, indian express Karti Chidambaram (PTI /File photo)

The Supreme Court on Monday stayed the Madras High Court order staying the Centre’s lookout circular against Karti Chidambaram and four others in an alleged corruption case filed by the CBI. A bench comprising Chief Justice J S Khehar and D Y Chandrachud also issued notice to Karti, son of former Finance Minister P Chidambaram, saying he did not join investigation.

The court also asked the Madras High Court to decide on Karti’s plea seeking quashing of the FIR against him in consonance with law.

Last week, the Madras High Court had stayed lookout circulars issued against Karti and four others, holding that they were prima facie “unwarranted”. Among others who had got the interim relief included his associates C B N Reddy, Ravi Viswanathan, Mohanan Rajesh and S Bhaskararaman.

The case is related to alleged discrepancies in the Foreign Investment Promotion Board clearance to INX Media for receiving overseas funds when Karti’s father was the Union Finance Minister in 2007. While the CBI had claimed that the FDI proposal of the media house was “fallacious”, Chidambaram had given his nod.

An FIR was lodged before the special CBI judge on May 15 and subsequently searches were carried out at the residences and offices of Karti and his friends the next day.

With PTI inputs

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  1. Abhay Sandwar
    Aug 14, 2017 at 9:21 pm
    court matter.
    1. D
      Devendra Shishodiya
      Aug 14, 2017 at 9:09 pm
      The fact is we all know PC must have amassed billions when he was FM and therefore he has properties in so many countries. Let us see how honest are our IT officials to bring all that back to treasury or IT get cuts and keep files closed.
      1. G
        Aug 14, 2017 at 8:39 pm
        If no malpractice is done by PC/KARTHI..why he is avoiding meeting CBI/ENFORCEMENT using legal lol holes?
        1. S
          Sankaran Krishnan
          Aug 14, 2017 at 7:01 pm
          It is slap on the face of P. Chidambaram who is trying to delay the case so that Karti can fly to the Land of fugitives and already his known persons who are well associated with Congress party and as well to the Cricket Administration are residing as Fugitives i.e absconding from India and residing in London and that is the reason Karti is often flying in the name of Business now caught unawares !!! My simple query to Chidambaram who says he is target and not his son, if Karti and he himself as Union Minister had not done any wrong doings there is no need to fear and instead face the CBI boldly and come clean and why blame the Investigation Agency or for that matter the Ruling Party ? Do your remember the famous words used by the Congress party "Law is taking its own course" and now it is hitting on your son, is it NOT ???
          1. S
            Aug 14, 2017 at 6:28 pm
            This should put P.Chidambaram to shame , he is protecting his son who is under scrutiny, we all know that these unscruplous activitis would have been carried by Karti is under the tutelage of his LEARNED appa, what say Chidambaram??DISGUSTING is a very small word, Like Justice Karnan, Law makers are Law breakers in our country, I guess PC would have tried same route that he would have advised Vijay Malya, hope we dont have to face similat sitiation like Malya to get truth out of Karti??
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