INX Media case: Karti Chidambaram sent to 5-day CBI custody

Agencies
March 1, 2018

New Delhi, Mar 1: Karti Chidambaram, arrested in the INX Media case, was today remanded to five days of CBI custody by a Delhi court.

Special Judge Sunil Rana extended Karti's custody till March 6 after the CBI contended that there were "very shocking evidences" of what he has done when he went abroad and alleging "when he went abroad, he closed bank accounts in which funds were received".

Karti was produced before the court on expiry of one-day CBI custody amidst the presence of his parents P Chidambaram and Nalini Chidambaram, both senior advocates, and were seen talking to him.

Additional Solicitor General Tushar Mehta, appearing for CBI, maintained that this was "not a case of political vendetta" and the investigation was going on in accordance with Article 21 of the Constitution.

"There are very shocking evidences of what Karti did when he went abroad," he said, adding that "when he went abroad, he closed bank accounts in which funds were received".

Even though Karti did not complain of any uneasiness during his regular medical check up yesterday, doctors at Safdarjung Hospital last night sent him to cardiac care unit and he was brought to CBI office only in the morning.

Due to his hospitalisation, the CBI's one-day custody was virtually wasted as it got Karti's custody only at 7:30 pm and he returned from the hospital this morning, he said.

Senior advocate Abhishek Mani Singhvi, who is leading a team of lawyers for Karti, contended that in connection with the May 2017 FIR, CBI has spent roughly 22 hours with Karti in August last year and no fresh summons was issued to him after August 2017 till date, which shows the agency has nothing more to ask him.

"The only way of establishing non-cooperation is to issue summons. You never tested my non-cooperation. Sudden arrest after six months. Its bizarre, I am arrested as I stepped out of plane.

"There is not an iota of evidence against Karti. He is being arrested despite complying with court orders repeatedly." he said.

Singhvi asked if Karti has done something illegal while being abroad, why didnt CBI file a contempt petition before the court which allowed him to travel abroad.

The CBI said that in May 2007, first FIPB approval was given to INX Media and in April 2008, this reference was made in the Finance Ministry.

From June 2008 onwards, the payment of the bribe money was started. The second FIPB approval was given on November 2, 2008. We are investigating whether the April 2008 reference was a "pressure technique", the CBI contended. "We have emails and invoices indicating money was given to Advantage Strategic Consultancy Private Limited (ASCPL), which is related to Karti, around the time period when INX Media received favours.

"There is substantial evidence with the agency which needs to be confronted with Karti. Three mobile phones have been recovered from him which need to be examined. 14 days is the minimum time required to keep him in custody," Mehta contended.

Karti was arrested yesterday at Chennai Airport on his return from the United Kingdom in connection with the FIR lodged on May 15 last year alleging irregularities in the Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when P Chidambaram was the union finance minister.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 15,2020

New Delhi, Jun 15: On Monday, petrol and diesel prices across the country were raised for the ninth consecutive day by 48 paise and 59 paise, respectively.

Petrol price per litre was raised to Rs 76.26 in New Delhi, Rs 83.17 in Mumbai, Rs 79.96 in Chennai, Rs 79.17 in Hyderabad, Rs 78.73 in Bengaluru and Rs 78.10 in Kolkata.

Diesel price per litre was hiked to Rs 74.62 in New Delhi, Rs 73.21 in Mumbai, Rs 72.69 in Chennai, Rs 72.93 in Hyderabad, Rs 70.95 in Bengaluru and Rs 70.33 in Kolkata.

Since 7 June, after ending their 82-day hiatus in daily revision, state-owned oil marketing companies have increased petrol price by Rs 5 per litre and diesel by Rs 5.23 per litre.

These prices are close to levels last seen in October-November 2018 when international oil prices had spiked close to $80 per barrel. In October 2018, petrol price in Mumbai had crossed Rs 90-mark and in Delhi, it was around Rs 83 per litre.

Comparatively, on Monday, Brent crude, the international benchmark for crude oil prices, fell 2.3 percent to $37.84 a barrel over concerns of subdued demand for fuel as new coronavirus infections were reported in China and the US.

The present spike in fuel prices in India could be attributed to the fact that central and state governments, along with oil marketing companies are looking to make up for their loss in revenues due to the lockdown.

Last month, the central government had increased the excise duty on per litre of petrol by Rs 10 and per litre of diesel by Rs 13. Several state governments have also hiked their VAT or cess on fuel in the last month. In fact, now around 70 percent of the retail price of fuel is just some form of tax.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 30,2020

New Delhi, Jul 30: India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.

Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.

"Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.

Local gold futures have jumped 35% so far this year after rising a quarter in 2019.

India's gold consumption in the first half of 2020 plunged 56% on-year to 165.6 tonnes. Meanwhile, the coronavirus-triggered lockdown also slashed demand by 70% in the June quarter to 63.7 tonnes, the lowest in more than a decade, the WGC said in a report published on Thursday.

Millions of Indians have lost their jobs or taken a pay cut after the country imposed a lockdown on its 1.3 billion people to curb the spread of the virus that has infected more than 1.5 million Indians.

Consumption is generally high during the June quarter due to weddings and key festivals such as Akshaya Tritiya, but lockdown restrictions kept shoppers indoors this year.

The weak demand in the first half could drag down India's gold consumption in 2020 to the lowest since 1994, when demand stood at 415 tonnes, Somasundaram said, adding that it is still difficult to provide an estimate for full-year demand as the coronavirus crisis is still unfolding.

"Indian demand has previously jumped as much as 300 tonnes in a quarter. Latent demand could come out in the second half," Somasundaram said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 23,2020

Thiruvananthapuram, Mar 23: Amid a spurt in coronavirus cases, Kerala chief minister Pinarayi Vijayan has asked the Centre to give the states authority to give clearances for manufacturing masks, gloves and sanitisers.

In a letter addressed to prime minister Narendra Modi, Vijayan said during the crisis, masks and sanitisers are needed in large numbers.

"As an interim, states must be given authority to give clearances of manufacturing of items related to medical devices, sanitisers, chemicals, etc. which are needed for fighting Covid-19," Vijayan said in the letter.

He also sought permission for the state home department to use drones for the relevant applications related to Covid-19.

"In China and elsewhere in the world, drones have been used extensively in minimising human contact, disinfection, etc. Unfortunately, with the current laws pertaining to the use of drones, none of these is possible in India," the chief minister said.

He also sought permission to access and use facilities available with all central institutions and research labs operating in the state.

The chief minister shared the letter on his Twitter handle.

With 15 new positive cases of Covid-19, the total number of infected persons in Kerala had gone up to 67, including the three who were discharged after recovery last month.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.