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CBI raids 14 properties of P. Chidambaram, son Karti in Chennai

LiveMint logoLiveMint 16-05-2017 Shaswati Das

New Delhi: The Central Bureau of Investigation (CBI) on Tuesday morning raided 14 properties of former finance minister P. Chidambaram and his son Karti Chidambaram in Chennai. The raids took place after a first information report (FIR) was registered on Monday, the CBI confirmed.

While the CBI did not confirm whether or not anything was recovered from the raids, it stated that raids were conducted in connection with foreign investments received by INX Media—which was formerly owned by media baron Peter Mukerjea—wherein Karti Chidambaram had allegedly received kickbacks from the media house, at the time when P. Chidambaram was the finance minister.

“We are investigating the role of Karti Chidambaram and P. Chidambaram in the matter. The raids are on in Chennai and we cannot confirm any recoveries or findings until the raids are over,” said a senior CBI official, requesting anonymity.

This is the second blow to the former minister, after the CBI informed the Supreme Court earlier in April that it was investigating the role played by him in the Aircel-Maxis case, where P. Chidambaram had allegedly given an illegal Foreign Investment Promotion Board (FIPB) clearance to a Malaysian firm to buy Aircel.

The raids also come as a setback for Karti Chidambaram, after the Enforcement Directorate (ED) issued a notice to him, seeking an explanation in alleged foreign exchange violations by his company Vasann Healthcare Pvt. Ltd.

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