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Wednesday, July 18, 2018

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 4:12:10 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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