Move Delhi HC for interim relief in INX Media case: SC to Karti Chidambaram

New Delhi: The Supreme Court on Thursday asked Karti Chidambaram, who is in CBI custody in connection with the INX Media case, to approach Delhi High Court for interim relief in INX Media money laundering case.

The apex court directed Karti to move Delhi HC on Thursday itself and also requested acting chief justice to set up an appropriate bench to adjudicate the matter concerning Karti on Friday or Saturday.

The Supreme Court also allowed Karti to withdraw his plea related to money laundering case.

A Delhi court on Tuesday ordered extended of Karti Chidambaram's custody by three more days after the Central Bureau of Investigation underlined that it had "concrete credible evidence collected recently" against him.

Also read: INX Media case: After 'new facts' claim, Karti sent to 3 more days of CBI custody

Karti's name had cropped up in the case which relates to Foreign Investment Promotion Board (FIPB) approval granted in 2007 for receipt of funds by INX Media when his father and senior Congress leader P Chidambaram was the Union finance minister during the previous UPA regime.

The ED had alleged that INX Media had deliberately and in violation of the conditions of the approval made a downstream investment of 26 per cent in the capital of INX News Pvt Ltd without specific approval of FIPB, which included indirect foreign investment by some foreign investors, and generated Rs 305 crore foreign direct investment in INX Media Pvt Ltd against the approved foreign inflow of Rs 4.62 crore.

To wriggle out of the situation without any punitive action, INX Media entered into a criminal conspiracy with Karti, the ED has alleged. The FIPB unit of the finance ministry had not only granted illegal approval but also misinformed the investigation wing of Income Tax Department, it had alleged.

(With inputs from agencies)