Karti not to go overseas, seeks finality on case

12 October, 2017, 16:14 | Author: Wade Massey
  • Karti Chidambaram son of Congress leader and former Inion finance minister P Chidambaram arrives at CBI headquarters for questioning

He also said the FIPB that dealt with the proposal of INX Media Ltd was chaired by D Subba Rao, who later became RBI Governor, and was succeeded by Ashok Chawla who later became Chairman of Competition Commission of India.

"As a result of my political affiliation (as well as that of my father), I am classified as a "politically exposed person" (PEP) for the purposes of banking in various global jurisdictions and hence am subject to enhanced Know Your Customer norms..."

In response to CBI's allegation that Karti had multiple bank accounts overseas, Sibal said Karti has one bank account in the UK.

The only banking activity conducted by me during my visit to the United Kingdom post the registration of the FIR by the CBI related to the two accounts in the Metro Bank and a sub account.

I never held any prior account before that, he also told the court.

CBI had last month told the apex court that Karti was prevented from travelling overseas as he was allegedly closing several of his foreign bank accounts.

Holding the CBI responsible for closure of his bank accounts, he said that these accounts have been rendered non-operational as a outcome of a unilateral decision taken by the bank on June 7, 2017 and that too without giving any reasons.

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The CBI told the Supreme Court on Tuesday that Karti Chidambaram, son of former finance minister P Chidambaram, had misrepresented before the court by stating in an affidavit that he and his family had only two bank accounts and a lone property overseas. So, if Karti dur ing the proposed foreign vis it tampers with any account or property, they would have further cause to prosecute him.

The CBI's FIR, lodged on May 15, had alleged irregularities in the Foreign Investment Promotion Board clearance to INX Media for receiving overseas funds in 2007, when Karti's father was the Union Finance Minister.On October 4, the CBI had alleged in the SC that Karti had tampered with evidence relating to an alleged graft case against him during his visits abroad.

The ongoing case pertains to allege that Karti illegally took service charges for getting the FIPB clearance to INX Media for receiving funds from overseas worth Rs 305 crore in 2007, when his father P Chidambaram was the finance minister in Congress-led United Progressive Alliance's rule.

The submissions were made by the CBI which probed Karti in the INX media case.

"The CBI can not use case diary entries to deny my fundamental right to travel recognised under Article 21 of the Constitution", he said.

They also said I have bank accounts overseas.

Taking the cue, a Bench led by Chief Justice of India Dipak Misra posted the case for November 1 for a detailed hearing on the legal question of whether or not the court can see documents, produced by the CBI in sealed covers, containing allegedly incriminating information against Mr. Karti. The CBI responded by saying, " we have things to show- the jugglery of accounts and properties overseas.

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