CBI Alleges Illegal Gratification In INX Media Case
The Hindu|October 20, 2019
CBI Alleges Illegal Gratification In INX Media Case
₹3.2 crore paid by it to four companies after Chidambaram cleared downstreaming of investments

The CBI has alleged that four invoices were raised for payment of over ₹3.2 crore by INX Media to four companies after its proposal for downstreaming investments into INX News was cleared by the then Union Finance Minister, P. Chidambaram, in 2008.

The companies are Advantage Strategic Consulting Private Ltd. (ASCPL), which is allegedly controlled by Karti Chidambaram, its Singapore wing, North Star Software Private Ltd. and the Greece-based Geben Trading Limited, the CBI said.

On March 13, 2007, the company applied for investments from three Mauritiusbased firms — Dunearn Investments, New Silk Route and New Vernon Private Equity Ltd. — by way of preferential allotment of 14.99 lakh equity shares at ₹10 a unit.

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October 20, 2019