New Delhi’s legal corridors are buzzing with a significant development in the long-running INX Media money laundering saga. The Enforcement Directorate (ED) has secured formal approval to prosecute former Finance Minister P. Chidambaram, marking a pivotal step forward in this high-profile investigation.
The nod came from the competent authority on February 10, 2026, and was promptly filed before the Special Prevention of Money Laundering Act (PMLA) Court at Rouse Avenue here. ED officials express confidence that this clearance will accelerate the trial proceedings, bringing closure to years of scrutiny.
The probe traces its roots to a May 15, 2017, FIR by the Central Bureau of Investigation (CBI), which alleged cheating and criminal conspiracy under IPC Sections 420 and 120-B, alongside provisions of the Prevention of Corruption Act, 1988. INX Media Private Limited, INX News Private Limited, and associates, including Chidambaram’s son Karti, were named as accused.
At the heart of the allegations is the Foreign Investment Promotion Board (FIPB) clearance granted to INX Media during Chidambaram’s tenure as Finance Minister. Prosecutors claim illicit favors were exchanged for this approval and its subsequent regularization, with proceeds funneled through entities linked to Karti Chidambaram.
ED investigations revealed a web of layered transactions designed to obscure the money trail. Funds were shuffled across companies, invested in shares, and used for property purchases to legitimize illicit gains. The agency has quantified the proceeds of crime at approximately Rs 65.88 crore, with prior attachments of Rs 53.93 crore in 2018 and Rs 11.04 crore in 2023 upheld by adjudicating authorities.
This is not the first salvo from ED; a maiden prosecution complaint was lodged on June 1, 2020, cognizance taken on March 24, 2021, followed by a supplementary complaint on December 16, 2024. The push for sanction aligns with a November 6, 2024, Supreme Court ruling mandating prior approval under CrPC Section 197 for prosecuting public servants.
With permissions now in place, the special court will proceed against Chidambaram on money laundering charges. As the case advances, it underscores the relentless pursuit of financial accountability in India’s corridors of power, reminding all that no one is above the law.