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by IANS |
New Delhi, Nov 28 (IANS) Opposing senior Congress leader, P. Chidambaram’s plea seeking a stay on trial in the alleged INX Media money laundering case, the Enforcement Directorate (ED) on Thursday contended before the Delhi High Court that managing his son's business interests was not a part of official responsibilities.
Before a Bench of Justice Manoj Kumar Ohri, the ED’s special counsel asserted that the money laundering allegations were unrelated to P. Chidambaram’s official duties and managing his son's business interests was not a part of his official responsibilities.
On the other hand, P. Chidambaram’s lawyer argued that the trial court ought not have taken cognisance of the ED's prosecution complaint without sanction since he held a public office at the time of the commission of the alleged money laundering offence.
Refusing to pass any formal order on the application seeking stay of trial proceedings, the Justice Ohri-led Bench posted the matter for hearing on Friday and asked P. Chidambaram’s lawyer to place on record the statements made by the witnesses before the federal anti-money laundering agency in the course of investigation.
In his petition filed before the Delhi HC, P. Chidambaram has challenged the trial court order taking cognisance of the alleged offences under the Prevention of Money Laundering Act (PMLA), when the ED has not obtained any prior sanction for the former Union Finance Minister's prosecution.
According to the case, excess Foreign Direct Investment was approved by INX Media (P) Ltd without the approval of the Foreign Investment Promotion Board (FIPB) which was allegedly scuttled by Karti Chidambaram by influencing public servants from various government departments by virtue of his relationship with the then Finance Minister P. Chidambaram and receiving huge kick-backs as consideration.
Proceedings under the PMLA were initiated against Chidambaram, Advantage Strategic Consulting Pvt. Ltd. (ASCPL), and others by the ED by recording an ECIR on the basis of an FIR registered by the Central Bureau of Investigation (CBI) for commission of offences punishable under various Sections of the Indian Penal Code and Prevention of Corruption Act.
During investigation, the ED learnt that illegal gratification (proceeds of crime) was received directly and indirectly from INX Media Pvt Ltd, to which FIPB approval was granted by then Union Minister P. Chidambaram, through several shell companies controlled by his son Karti Chidambaram.
"Illegal gratification was received in the company of the accused in the name of providing consultancy by the entities of INX Media. The total proceeds of crime laundered over a period of time was Rs 65.88 crore," the ED said.
The money was routed to overseas accounts and investments were made in various overseas properties and shares of companies through various shell companies directly or indirectly controlled by Karti Chidambaram and through his confidants.
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