Reeling under pressure from the banking frauds, Government started to move towards high and mighty. Yesterday PNB’s top officials were questioned for their roles in the two billion dollar Nirav Modi frauds, today Karti Chidambaram son of former finance minister P Chidambaram has been arrested in Chennai airport.
The arrest was made by CBI for not cooperating in the investigation of the INX media money laundering case. The CBI says that that companies linked to Karti had influenced FIPB (Foreign Investment Promotion Board) approval for investment in INX media. The 2007 incident involved a money transfer of approximately 305 Crore while his father P Chidambaram was the finance minister of the country.
The CBI has alleged that Karti entered into a criminal conspiracy with INX to use his father’s influence.
While the case is against INX, the charges against him for arrest are wafer thin. As per the basic principal of law, no one can be forced to give evidence against themselves, the arrest itself, on the grounds of non – cooperation with the investigating agency can be taken as an attempt to coarse Karti. The fact that CBI has not applied for a judicial remand further indicates that core charges against Karti are far from being established.
While the central government tries to get back its high standing on stopping corruption in the country, its attempts to do so may weak their case in the first place. Half-baked charge sheets may be thrown out of court rooms and much like the 2G verdict almost all their cases may draw a blank. It’s time for the central investigation agencies to actively consider advice of solicitors before acting like G-Men of the government. India needs justice, the present actions may well deny it.
