According to the CBI FIR, the main charges against Karti Chidambaram and his firm Chess Management Services (P) Ltd are —1) INX entered into a criminal conspiracy with Karti Chidambaram to amicably settle a case of violation of foreign investment norms by the company in 2007. The media firm had brought in Rs 305 crore through foreign investment even as the FIPB had approved foreign inflow of only Rs 4.62 crore. The CBI has alleged that Karti was engaged by the firm “by virtue of his relationship with the then Finance Minister P. Chidambaram”. Subsequently, INX Media was granted FIPB permission for the investment which had already come into the firm. 3) The CBI has alleged that Karti Chidamabaram received Rs 10 lakh from INX Media for “management consultancy charges” through Advantage Strategic Consulting (P) Ltd, a firm which was indirectly controlled by Chidamabaram.

Source: Indian Express May 16, 2017 10:14 UTC