Residence of Congress leader P Chidambaram raided by CBI

Chennai: The residence of former finance minister P Chidambaram and his son Karti Chidambaram were raided by the Central Bureau of Investigation on Tuesday among more than a dozen places here in Tamil Nadu

The searches were held at 14 places after an FIR was filed naming Karti Chidambaram as an accused in connection with foreign investment clearances to a media company.

It is alleged that Karti Chidambaram's company facilitated clearances to INX Media(then owned by Peter Mukerjea and his wife Indrani Mukerjea) in 2008 for kickbacks.

The owners are currently in jail in connection with the murder of Sheena Bora.

It could be recalled that Chidambaram is a senior Congress leader and was Finance Minister in the former Central government lead by Dr. Manmohan Singh.

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Congress Reacts:

• Congress spokesperson Tom Vadakkan has accused the BJP government of targeting the Congress leader and his son.
• He stated that the BJP government is trying to create a 'Raid Raj' in the country.
• "The attempt is to grab headlines and create a perception. Why no action for three years?" said the Congress spokesperson.

What CBI has to0 say:

According to some internal sources from the investigative agency, " Investigation is being held on the charge that Karti Chidambaram's company received Rs. 10 lakh from INX Media, which got an FIPB or Foreign Exchange Promotion Board clearance for four crores but actually received Rs. 305 crores."