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CBI raids Chidambaram's Chennai residences

CBI raids Chidambaram's Chennai residences

Chennai: The CBI on Tuesday raided the residences of former Union Minister P. Chidambaram and his son Karti Chidambaram here in Tamil Nadu.

The Central Bureau of Investigation agency began the raids at the former Finance and Home Minister's house early on Tuesday morning, sources said. 

The searches are on at 14 places a day after an FIR or police complaint named Karti Chidambaram as an accused in connection with foreign investment clearances to a media company.

The allegation is that Karti Chidambaram's company facilitated clearances to INX Media in 2008 for kickbacks.

INX Media was then owned by former media tycoon Peter Mukerjea and his wife Indrani Mukerjea, who are currently in jail in connection with the murder of her daughter Sheena Bora.

Mr Chidambaram, a top Congress leader, was Finance Minister in the Manmohan Singh government at the time and his role is also being examined, say sources.

"The attempt is to grab headlines and create a perception. Why no action for three years?" said Congress spokesperson Tom Vadakkan, accusing the government of targeting Mr Chidambaram and his son with a "raid raj".

CBI sources say they are investigating the charge that Karti Chidambaram's company received Rs. 10 lakh from INX Media, which got an FIPB or Foreign Exchange Promotion Board clearance for four crores but actually received Rs. 305 crores.

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