Madras HC sets aside look out circulars against Karti Chidambaram

Chennai: The Madras High Court on Monday set aside the Look Out Circulars issued against former finance minister P. Chidambaram’s son Karti Chidambaram by the Central Bureau of Investigation (CBI) in June last year in context with the INX media case.

However, the court made it clear that the order would not affect any proceedings initiated against him in the case under the registered first investigation report (FIR).

Earlier in the day, the Supreme Court allowed Karti Chidambaram to travel to USA, France and UK from July 23 to 31 for business purpose. He had earlier filed a plea in the apex court seeking permission to travel abroad.

Karti and his father have been under the scanner of investigating agencies, Central Bureau of Investigation and Enforcement Directorate (ED) in connection with the Foreign Investment Promotion Board (FIPB) clearance granted to INX Media, a venture promoted by former media baron Peter Mukerjea and his wife Indrani Mukerjea.

The alleged irregularities took place in the year 2007 when Chidambaram was the finance minister during the UPA-1 government.

In February, Karti was arrested for his alleged role in the case. He was, however, granted bail in March by the Delhi High Court.

Karti allegedly took service charges for getting the clearance to INX Media for receiving funds from abroad worth Rs 305 crore. (ANI)