The order received from the Competent Authority against Shri. P. Chidambaram, the then Union Finance Minister is in respect of the offence of money laundering in the matter of INX Media
FinTech BizNews Service
Mumbai, 26 February 2026: ED has placed prosecution sanction order received from the Competent Authority against Shri. P. Chidambaram, the then Union Finance Minister in respect of the offence of money laundering in the matter of INX Media Private Limited, before the Ld. Special Court, as per a press release issued by the ED today.
The Directorate of Enforcement had initiated investigation under PMLA, 2002 in ECIR/07/HIU/2017 based on the FIR No. RC2202017 E 0011 dated 15.05.2017, registered by CBI against M/s INX Media Pvt. Ltd., M/s INX News Pvt. Ltd., Sh. Karti P. Chidambaram and others for offences punishable under Section 120-B read with Section 420 of the Indian Penal Code, 1860 and Sections 8, 13(2) & 13(1)(d) of the Prevention of Corruption Act, 1988.
In the instant case, investigation has revealed that Foreign Investment Promotion Board (FIPB) approval was granted to M/s INX Media Pvt. Ltd. during the tenure of Shri P. Chidambaram as the Union Finance Minister, Government of India. It was further revealed that, in consideration for granting and subsequently regularizing FIPB approval, illegal gratification was demanded and received through entities beneficially owned/controlled by Shri Karti P. Chidambaram S/o Sh. P Chidambaram.
The investigation revealed that such amounts were routed through shell companies including M/s Advantage Strategic Consulting Pvt. Ltd. (ASCPL) and associated entities which were under direct or indirect control of and beneficially owned by Sh. Karti P Chidambaram. These funds were layered and integrated through investment in shares of M/s Vasan Health Care Pvt. Ltd. and M/s AGS 2 Health Care Pvt. Ltd., and subsequently multiplied through sale of shares and overseas investments. Investigation has revealed that Sh. Karti P. Chidambaram and his close associates, acted on behalf of Shri P. Chidambaram, interacted with people of INX Media in connection with FIPB approval matters and collected proceeds of crime arising therefrom. The proceeds were subsequently routed through shell companies incorporated for the purpose of laundering, layered through complex transactions across multiple jurisdictions without any genuine business activity, and structured to conceal the money trail. The funds were thereafter utilized for deposits in bank accounts and for investment in movable and immovable properties in India and abroad in the names of shell entities and associates. The total proceeds of crime have been quantified at approximately Rs. 65.88 crore. Proceeds of crime amounting to Rs. 53.93 crore (attached vide order dated 10.10.2018) and Rs. 11.04 crore (attached vide order dated 31.03.2023) have been provisionally attached under the provisions of PMLA, and both attachment orders have been confirmed by the Ld. Adjudicating Authority. Subsequently, Prosecution Complaint under Sections 44 and 45 read with Sections 3 and 4 of PMLA was filed before the Hon’ble Special Court (PMLA), Rouse Avenue Court, New Delhi on 01.06.2020, and cognizance was taken on 24.03.2021 wherein Sh. P Chidambaram (Accused -1), the then Union Finance Minister, Sh. Karti P Chidambaram (Accused – 7) and other 8 parties have been arrayed as accused. Thereafter, Supplementary Prosecution Complaint has also been filed on 16.12.2024. The Enforcement Directorate has been making all efforts to fast track the trial in the case.
The Hon’ble Supreme Court delivered a judgement on 06.11.2024 in the case “Directorate of Enforcement vs Bibhu Prasad Acharya, etc Criminal Appeal Nos 4314-4316 of 2024” and held that the requirement of the prosecution sanction under section 197(1) of the CrPC is applicable to a complaint filed under section 44(1)(b) of the PMLA, 2002 also. Subsequent to this judgement, many accused persons charged under PMLA, 2002 have challenged the trial proceedings in multiple legal forums, leading to delay in the trial. To counter such delay and to comply with the judgement of the Hon’ble Supreme Court, ED has swiftly initiated remedial actions by seeking prosecution sanctions in all such prosecution complaints involving public servants. Therefore, in light of the said order of Hon’ble Supreme Court, the sanction of Shri P. Chidambaram was sought from the competent authority in this case and the sanction was obtained on 10.02.2026 in respect of Sh. P. Chidambaram along with the Order under section 197 of code of Criminal Procedure, 1973 (Section 218 of Bhartiya Nagrik Suraksha Sanhita, 2023, dated 10.02.2026 for prosecuting Shri. P. Chidambaram, the then Union Finance Minister in respect of the offence of money laundering.
The Prosecution Sanction Order has been placed before the Hon’ble Special Court, Rouse Avenue by ED to expedite the trial in the case.
