CBI files case against Karti Chidambaram for Rs.87 crore bribe over FDI clearances to sequoia and lifting Diageo liquor ban

New case emerges to haunt Karti Chidambaram

Congress MP Karti Chidambaram is facing a new CBI case for misusing his father, former Finance Minister P Chidambaram’s office, accepting bribes for lifting the ban on liquor manufacturer Diageo and FDI clearance for Sequoia Capital, and routing bribe money through Vasan Eye Care and his own firm, Advantage Capital. As per the CBI FIR, Karti got around Rs.87 crore on these deals by misusing the Finance Minister’s office in 2008.

Apart from Karti, other accused are the Chidambaram family’s Chartered Accountant S Bhaskararaman, Vasan Eye Care promoter (late) Dwarakanathan, bribe givers liquor company Diageo and venture capital firm Sequoia, and Karti-controlled firms Advantage Strategic Consulting and Vasan Eye Care, which is now defunct.

CBI FIR charges Karti and his firm Advantage for accepting a bribe of 15,000 Dollars for lifting the ban on liquor company Diageo Scotland which supplies the famous brand Johny Walker Whiskey. CBI FIR says more than 86 crores was routed by Karti-controlled firms Vasan Eye Care and Advantage Strategic Consulting in providing Foreign Direct Investment clearance for Mauritius-based venture capital firm Sequoia Capital’s proposals from the Finance Ministry then headed by P Chidambaram. Detailing the money trail, CBI FIR says these transactions happened between 2008 to 2010.

Karti’s all dubious transactions were caught by then Enforcement Director Rajeshwar Singh in 2015 when he raided and seized all computer hardware from the offices and home of Karti. PGurus reported the assets of the Chidambaram family in 14 countries and 20 foreign bank accounts in a detailed article titled ‘Chidambara Rahasya’.[1]

Karti is currently facing three CBI cases – the Aircel Maxis deal, INX Media bribery, and the Chinese Visa case. This is his fourth case, facing corruption, misusing his father former Finance Minister P Chidambaram. He is also facing the Enforcement Directorate’s case in the Aircel Maxis and INX Media bribery case. In the Aircel Maxis deal and INX Media bribery case, Karti is a co-accused with his father P Chidambaram. Nalini Chidambaram is now facing trial in Saradha Scam also.

Reference:

[1] Chidambara Rahasya – Details of huge secret assets & foreign bank accounts of Chidambaram Family – Mar 15, 2017, PGurus.com

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