In a significant development in the long-running INX Media money laundering probe, the Enforcement Directorate (ED) has submitted the prosecution sanction order against former Finance Minister P Chidambaram to the Rouse Avenue Court in Delhi. This move clears a major procedural hurdle and paves the way for expedited hearings in the high-profile case.
The case originated from a CBI FIR filed on May 15, 2017, alleging corruption and criminal conspiracy in granting Foreign Investment Promotion Board (FIPB) approval to INX Media Private Limited during Chidambaram’s tenure as Finance Minister. The ED launched its parallel investigation under the Prevention of Money Laundering Act (PMLA), 2002, uncovering a web of illicit transactions.
Investigations revealed that approvals were allegedly traded for bribes funneled through entities controlled by Chidambaram’s son, Karti. These funds, amounting to approximately Rs 65.88 crore in proceeds of crime, were layered through shell companies, invested in healthcare firms like Vasan Health Care and AGS Health Care, and eventually multiplied via share sales and foreign remittances.
The ED has already attached assets worth Rs 53.93 crore and Rs 11.04 crore, with both orders upheld by the Appellate Tribunal. A primary complaint was filed in June 2020, naming Chidambaram, Karti, and eight others as accused. A supplementary complaint followed in December 2024.
Delays arose after a November 2024 Supreme Court ruling mandating Section 197 CrPC sanction for public servants in PMLA cases. Responding swiftly, the ED secured the nod on February 10, 2026, from the competent authority and presented it to court, signaling renewed momentum in this saga of alleged influence peddling at the highest levels of government.