P CHIDAMBARAM FROM PARLIAMENT TO TIHAR

Pallaniappan chidambaram was the Finance minister starting in

may 2004 expect three and half year stint beginning from November 2008 as home
minister.He returned as finance minister in 2012 he was succeeding Pranab mukheerjee
who d emitted and become the president of India.currently he is levied in corruption
charges during the UPA government as finance minister.He is accused in INX Media case
and was in Tihar jail.

How the case was taken up ?

In January 2008 the financial intelligence unit of the finance ministry found an
abnormality or strays from common rules or methods in the money flow from three
Mauritian based firms into the venture called INX media that involve a large number of
foreign fund.The income tax department of Mumbai took up the case and forwarded it
to Enforcement Directorate which inquire closely the flow of fund to check if money
being generated by a criminal activity.so that the Enforcement Directorate investigated
and pointed towards corruption that involving powerful people and then they referred
to the matter to the central bureau of investigation which they registered FIR in INX
Media case.Besides this the Enforcement Directorate complained a separate case of
money laundering later.The case was related to divesting of shares of INX Media all
though by to many observation chidambaram weilded more influences in this case.

what violence INX Media had done ?

INX media approached the finance ministry for issuing 14.98lakh equity share and
31.22lakh covert-able share and each share was to be priced at 10rs and that was to be
owned my three non resident investors under the FDI route.The foreign investment
promotion board of the finance ministry has approved the following request that had
given by the INX media about there issue of share.later INX media was allowed to
receive foreign fund of rupees 4.62 crore However,the company went on receiving
foreign fund to the tune of Rs 305cr from the three Mauritius based firms that was the
violation made by INX media

Highlights of the case.

*INX media case against Pallaniappan Chidambaram relates to FIFB Approval given in 2007.

*CBI is probing corruption angle in the case and enforcement Directorate is investigating money
laundering.
*INX Media had received foreign funds of 305crore in violating of rules.

What went wrong ?

The Delhi High Court rejected the petition seeking for p chidambaram for
arrest in INX Media case and later rejection of plea gave central Bureau of investigation and
enforcement Directorate a free hand in moving against chidambaram which made matters worse
for him and it was a stinging observation by the high court they used the word key conspirator
and main accuse for chithambaram in INX Media.A threatened knocked the door of the supreme
court on the same day as the time of hearing was almost over the lawyer of p chidambaram
were told by the supreme court registry to mention their plea before the chief justice and the
next day also the other peoples who represent chidambaram pleaded for urgent hearing via
supreme court but they where busy through other cases.justice ramana who is the Senior most
judge in the supreme court when CJI Gogoi was busy and as per rules entitled to hear cases
which was coming through mentioning but mentioning of a matter in the supreme court refers
to case that have not been listed for hearing but was considered urgent in the view of some
impending occur .Justice ramana even called the officials from supreme court that technical
rectification and the petition was ready to be heard.even it was all set for hearing that would
happen on the next day but the court has posted the matter for hearing a later on.The CBI
arrested chidabaram who himself scarce after the Delhi high court order it was produced in the
special CBI court sent him to CBI custody the supreme court for plea seeking protection against
ED action and granted him relief from arrest.chidambarams petition filed in the supreme court
came up for hearing before the bench of justices R Bhanumathi and supreme court dismissed
the petition observing the plea against the Delhi High Court ruling was infructuous and justice
told chidambaram was already being arrested plea could not be heard.as per the conventional
arrangement the high court and supreme court do not interfere with process of investigation in
any case.In case of arrest of an accused, this principle means that these courts would hear only
a regular bail plea. This also means that Chidambaram needs to first move a bail plea in the
CBI court and then the Delhi High Court before moving to the Supreme Court for the same.

REFERENCE

* indiatoday.in