Karti Chidambaram, son of senior Congress leader P. Chidambaram, was on Thursday questioned by the ED officials for over 10 hours in a money laundering case related to alleged irregularities in a FIPB clearance accorded to INX Media in 2007.
A senior Enforcement Directorate official told IANS that Karti Chidamabaram was questioned for over 10 hours at the agency's headquarters about the INX media dealings, save 30 minutes in the day for having lunch.
After coming out, Karti Chidamabaram told reporters: "Whatever I have stated here has already been stated in all my petitions in the court."
The agency issued summons to him on January 16. The first summons was for January 11 when Karti Chidambaram's legal representatives appeared before the agency.
On Saturday, the agency conducted raids at properties of Karti Chidamabaram -- one in Delhi and four in Chennai.
The ED registered a money laundering case against him in May 2017.
Also named in a CBI FIR along with INX Media and its directors, Peter and Indrani Mukerjea -- both accused in the murder case of Sheena Bora -- and others, Karti Chidambaram is facing a probe for his alleged role in facilitating Foreign Investment Promotion Board clearance for INX Media Ltd when his father was the Union Finance Minister.
Karti Chidambaram is alleged to have received Rs 3.5 crore from Mumbai-based INX media, now 9X Media, for helping it get the FIPB clearance when it was run by the Mukerjeas.
Following the FIPB clearance, INX Media said it had received Foreign Direct Investment (FDI) of Rs 46.20 million, but actually received Rs 3,053.60 million between August 2007 and May 2008, the ED said.
This excess foreign exchange amount of Rs 3,004.40 million, beyond the disclosed permitted foreign investment, was received by INX Media from three Mauritius-based investors, said the ED.