ED recovers confidential CBI report from Karti Chidambaram's home, probe ordered

NEW DELHI: The Enforcement Directorate (ED) has recovered confidential Central Bureau of Investigation (CBI) report prepared in connection with the Aircel-Maxis case from Karti Chidambaram's house. The central agency had submitted the report to the Supreme Court. 

The CBI is now conducting an internal inquiry into the matter. 

The 2013 draft report was seized by the ED during a raid at Chidambaram residence in Jor Bagh on January 13, 2018. The agency, on that day, had searched a number of premises in Delhi and Chennai, linked to Chidambaram's son Karti Chidambaram.

The former finance minister has refused to comment on the case. 

The senior Congress leader, on January 13, had termed the ED raids against his son "a comedy of errors" and claimed that the officers were left "embarrassed" and "apologetic" as they could not find anything at his Jorbagh house.

"Since they (ED sleuths) had to justify the search, they took some background papers related to a statement made by the government in Parliament in 2012-13. In Chennai also they found nothing, seized nothing," the senior Chidambaram had said.

The ED case pertains to a Foreign Investment Promotion Board (FIPB) approval granted in 2006 by the then finance minister P Chidambaram.

The agency had said it is investigating the circumstances of the said FIPB approval granted by the then finance minister (P Chidambaram)" under the Prevention of Money Laundering Act (PMLA).

It charged that Karti had "also closed certain bank accounts and attempted to close other bank accounts in order to frustrate the process of attachment" under the PMLA.

The agency had said that the FIPB approval in the Aircel-Maxis FDI case was granted in March, 2006, by the then finance minister, even though he was competent to accord approval on project proposals only up to Rs 600 crore and beyond that it required the approval of the Cabinet Committee on Economic Affairs (CCEA).

"In the instant case, the approval for FDI of 800 million USD (over Rs 3,500 crore) was sought. Hence, CCEA was competent to grant approval.

"However, approval was not obtained from CCEA," it had alleged.

Karti is also being probed by the ED in another money laundering case pertaining to the INX media deal.

With PTI Inputs