CBI raids residences of former Union minister P Chidambaram, son Karti in Chennai
By Our Correspondent, 16/05/2017, New Delhi

The CBI today conducted raids at 12 places in Chennai including the residence of former Union minister P Chidambaram and his son Karti Chidambaram.CBI is also conducting searches at locations in Mumbai, Delhi and Gurugram. The raids are being carried out in connection with clearances given to INX Media and criminal misconduct in grant of Foreign Investment Promotion Board -FIPB approval.

On 17th April, the Enforcement Directorate (ED) had issued a show-cause notice to Karti Chidambaram and a firm purportedly linked to him for alleged violations of the FEMA laws to the tune of 45 crore rupees.The agency also issued a similar notice, after over two years of investigations, to another firm M/s Vasan Health Care Private Limited, which is based in Chennai, for alleged forex violations of 2,262 crore rupees.