Central Bureau of Investigation carried out searches at several places linked to former Union minister P Chidambaram and his son Karti over alleged favours granted in foreign investment clearance to a firm, INX Media, in 2007.
Official sources said the searches are spread across Mumbai, Delhi, Chennai, and Gurugram.
The raids are taking place at the Nungambakkam residence of P Chidambaram in Chennai, a senior police official said in Chennai.
The agency has on Monday registered a case regarding alleged irregularities in granting the Foreign Investment Promotion Board clearance to INX Media, run by its directors Indrani Mukerjea and Peter Mukerjea, in 2007 when P Chidambaram was the finance minister.
The agency has registered the case against INX Media through its director Indrani Mukerjea, Peter Mukerjea, Karti Chidambaram; Chess Management Services (a company of Karti), and Advantage Strategic Consulting Limited through its director Padma Vishwanathan. CBI today conducted raids at 12 places in Chennai including the residence of former Union minister P Chidambaram and his son Karti Chidambaram.
CBI is also conducting searches at locations in Mumbai, Delhi and Gurugram. The raids are being carried out in connection with clearances given to INX Media and criminal misconduct in grant of Foreign Investment Promotion Board -FIPB approval.
On 17th April, the Enforcement Directorate (ED) had issued a show-cause notice to Karti Chidambaram and a firm purportedly linked to him for alleged violations of the FEMA laws to the tune of 45 crore rupees.
The agency also issued a similar notice, after over two years of investigations, to another firm M/s Vasan Health Care Private Limited, which is based in Chennai, for alleged forex violations of 2,262 crore rupees.
Next raid of Income Tax department and surveys at 22 locations in Delhi and Gurgaon on charges of benami land deals worth Rs 1,000 crore involving RJD chief Lalu Prasad. PTI quoting officials said the department began raiding the premises of some prominent businessmen and real estate agents in Delhi, Gurgaon, Rewari and few others since early morning.
The searches are also being conducted at the premises of the son of RJD MP P C Gupta and few other businessmen. It said, While raids are being conducted at a dozen locations, ten other official premises are being surveyed by the I-T department.
The BJP had last week accused Prasad, his MP-daughter Misa Bharti and his two sons, both Bihar government ministers, of being involved in corrupt land deals worth over Rs 1,000 crore, and asked the central government to probe one such transaction in Delhi.
Union minister Ravi Shankar Prasad had alleged that these transactions were a case of quid pro quo as they date back to the period when Lalu Prasad was the railway minister, and dared Bihar Chief Minister Nitish Kumar to take action against him.
All the companies owned by Lalu Prasad’s family members for the purpose of these land transactions had no employees, no business activities and no turnover, Ravi Shankar Prasad had claimed.