INX Media case: Chidambaram questioned for 5 hours by ED

Former Finance Minister P. Chidambaram was on Friday questioned for over five hours by the Enforcement Directorate (ED) in a money laundering probe related to INX Media.

He was questioned over a Foreign Investment Promotion Board (FIPB) clearance that he had given to the group in 2007.

Chidambaram arrived at the Jamnagar office at 11.05 a.m. and was quizzed for over five hours till 5 p.m.

He was allowed to step out for lunch for an hour.

This is the third time that the former Finance Minister was grilled by the ED in the last two months.

According to the ED officials, Chidambaram was asked about his meetings with INX Media directors Peter and Indrani Mukerjea and how clearance to INX Media was given instantly for receiving overseas funds to the tune of Rs 305 crore in 2007, when he was the Finance Minister.

He was questioned under the Prevention of Money Laundering Act (PMLA), officials said.

On January 21, the Central Bureau of Investigation (CBI) which is also probing the INX media case, sought prosecution sanction against the the senior Congress leader from the Centre.

On Thursday, the ED questioned his son Karti Chidambaram for over six hours. Karti has been questioned earlier on several occasions.

Both the agencies are probing how Karti managed to get clearance from the FIPB in 2007 when his father held the Finance Minister portfolio.

The ED probe so far showed that for the FIPB approval, INX Media directors Peter and Indrani Mukerjea met P. Chidambaram so that there was no hold-up or delay in their application.

The ED has attached properties worth Rs 54 crore belonging to Karti and a firm in the case. It has also attached properties belonging to the Mukerjeas.

The ED last year had attached his son's properties worth Rs 54 crore located in India and abroad as part of its probe into the case.

--IANS

aks/oeb/prs