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Jinxed By Inx
India Today
|September 09, 2019
The case against P. Chidambaram is based on his alleged involvement in the violation of foreign investment laws/ money laundering by INX Media, a firm founded by former media barons Indrani and Peter Mukerjea (both currently facing a charge of murder).
In 2007, when Chidambaram was finance minister, INX Media sought permission from the Foreign Investment Promotion Board (FIPB) to source foreign direct investment (FDI) and to further invest a part of those funds. The FIPB approved Rs 4.6 crore of FDI, but did not permit downstream investments in other group companies. However, INX Media took in over Rs 305 crore and went ahead with its investment plan. In early 2008, the finance ministry’s Financial Intelligenc
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