Here is a brief overview of the case:
- Background:
- INX Media, a media company, had sought clearance from the Foreign Investment Promotion Board (FIPB) for foreign direct investment (FDI) in 2007. The company had received approval for FDI of around Rs. 4.62 crore. However, it was alleged that INX Media violated the conditions of the approval.
- Allegations:
- The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) alleged that Karti Chidambaram, the son of P. Chidambaram, used his influence to manipulate the FIPB clearance in favor of INX Media.
- It was further alleged that Karti Chidambaram’s companies received kickbacks for facilitating the FIPB clearance.
- Investigations:
- The investigations into the INX Media case were initiated in 2017.
- P. Chidambaram was accused of using his position as the Finance Minister to influence the decision in favor of INX Media.
- Legal Proceedings:
- P. Chidambaram was arrested by the CBI in August 2019 after a high-profile investigation. He was later granted bail by the courts.
- Karti Chidambaram also faced legal proceedings, including raids and questioning by the ED.
- Current Status:
- As of my last knowledge update in January 2022, the case was ongoing, and legal proceedings were continuing. It’s essential to check the latest news sources for updates on the current status of the INX Media case.
Please note that legal cases can be complex and may involve multiple hearings, investigations, and court decisions. The information provided here is based on the status of the case up to my last knowledge update, and there may have been developments since then.