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P.Chidamabaram; the Former Finance Minister is Missing


Dear Readers,

You must have heard or watched the breaking news that former Finance Minister and Congress Minister P.Chidamabram is missing after HC refuses to give anticipatory bail.

Interesting?

Want to know more about the news.

Have a deep inside of the matter through our article.

P.Chidamabaram is missing out from his home when the High-Court has refused the anticipatory bail of Chidambaram. CBI went to his house to arrest him but he was not present there.

There are two cases related to the former Finance Minister P. Chidambaram.

  1. INX Media case
  2. Maxis Ariel case

 

INX Media case-

INX Media Case is the reason of Chidambaram’s missing. In 2007, Indrani Mukherjee along with her husband Peter Mukherjee founded INX Media. Indrani Mukherjee and Peter Mukherjee are the same persons who were later found accused for murder of her daughter Sheena Bora 3-4 years ago.

The company INX Media needed a clearance of investment of 305 crore from Foreign Investment Promotion Board. However, FIBP Regulations allowed INX Media to receive only 4.62 crore but they violated the terms and conditions and raised RS 305 crore from FDI.Many irregularities took place in between.

Peter and Indrani met the then Finance Minister P.Chidambaram to clear the FDI regularities and in exchange Chidambaram asked for his son’s interest in entrepreneurship to be kept in mind. After that, Karti Chidambaram, son of P.Chidamabaram founded ASCPL i.e. Advantage Strategic Consulting Pvt. Limited and many other companies. Karti has studied Business Management from University of Texas and Law from University of Cambridge. He has also purchased a house in Somerset (UK) in the name of ASCPL (Advantage Strategic Consulting Pvt. Ltd.).

ED; Enforcement Directorate identified the payment of 3.09 crore by Peter to ASCPL and associated entities controlled by Karti Chidambaram.

CBI registered FIR on MAY, 15, 2017 in the INX Media Case. After that ED i.e. Enforcement Directorate lodged the money Laundering Case. In October, 2018, ED attached assets worth 54 crore of Karti Chidambaram in India and Overseas in connection with INX Media.

The Police and CBI have been looking for Chidambaram desperately. The High-Court has rejected the anticipatory bail and reckless to catch him up.

 

Maxis Aircel Case-

In the year 2006, P.Chidamabaram, the former Finance Minister approved Rs 3500 crore to Aircel-Maxis, a mobile company whereas he was allowed to approve the investment of 600 crore only. Chidambaram wrongly approved the fiscal deal for which he was not authorized. The sources says that Enforcement Directorate and CBI says that Chidambaram gave approval to benefit his son, Karti Chidambaram.

 

Bottom Line-

It’s not new for INX Media to be caught in corruption cases. In 2010, ED registered a case under FEMA for diverting FDI to INX Media’s subsidiaries to approval of Foreign Investment Promotion Board. CBI also stated that Peter and Indrani Mukherjee had siphoned off money from INX Media and parked it in an offshore Bank account in Sheena Bora’s name. And what can be the heights of corruption, disgust, and guilt when Indrani and Peter Mukherjee were accused of daughter’s Sheena’s murder case.

Many cases appear and disappear, come and go. But suspense is not over yet. What will happen to the Finance Minister? Will he be caught? Or is he fled to another country? Will the authorities be able to catch him successfully?

Ample questions must be hovering in your mind and answer can be only given by one person, Mr. P.Chidamabaram.

By Meghna