The Enforcement Directorate (ED) is seeking an expedited trial against Congress leader P Chidambaram in the Aircel-Maxis and INX Media money laundering cases, having submitted the required prosecution sanction to the court.
Indrani Mukerjea is the founder and the newly-appointed CEO of INX Media. She also heads INX News. The youngest woman to head a media group in the world, Indrani Mukerjea spoke to Sayantani Kar on INX's bouquet of channels that will be launched in the next one-and-a-half years.
Tasting success with the relaunch of Sensex derivatives in the onshore market, BSE is preparing for the 'offshore' debut of its 30-share index, which has become synonymous with the domestic markets. Sources in the know said that the India International Exchange (India INX), a subsidiary of BSE, received approval in July from the International Financial Services Centres Authority (IFSCA) to launch Sensex 30 derivatives contracts.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
The stock exchange BSE has called off the merger of its unit at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India International Exchange (India INX), with NSE International Exchange (NSE IX), a similar unit floated by rival National Stock Exchange (NSE), according to sources familiar with the development. BSE and NSE had been in discussions for the merger for over a year, but it has yielded no results, they said.
A Delhi court Wednesday issued summons to former Union minister P Chidambaram and his son Karti in the INX Media money-laundering case on taking cognisance of the charge sheet filed by the Enforcement Directorate (ED) against them.
This is the first time that the 73-year-old former finance and home minister is being grilled by the ED in this case.
The HC asked him to furnish a bail bond of Rs two lakh and a surety of like amount.
INX will trade initially in equity derivatives, currency derivatives, commodity derivatives including index and stocks
Trading in other derivative products in currency, commodities expected to begin soon.
Indrani Mukerjea was the founder and chief executive officer while Peter Mukerjea was chairman and chief strategy officer. They set up INX Media three years ago after Mukerjea resigned as Star India CEO. According to a press release issued by the company, they will continue to be shareholders in the broadcasting company.
The letter rogatory, a judicial request for information from an Indian court to a court abroad, was sent recently to the United Kingdom, Singapore, Mauritius, Bermuda and Switzerland, they said.
Chidambaram, 74, was arrested by the Central Bureau of Investigation on August 21 and is lodged in Tihar jail under judicial custody in the corruption case.
Foreign funds are picking up just under half of the equity in INX Media
D B Corp, the owner of the Hindi daily Dainik Bhaskar, is in advanced discussions with broadcaster INX Media to acquire a stake in the company that operates the entertainment channels as well as a majority stake in its English language news channel NewsX. Both companies are promoted by Indrani and Peter Mukerjea, the former Star India CEO.
Right from the early days of liberalisation, there have been political controversies surrounding several cases that landed on the FIPB table and which, in turn, have often led to court battles.
The apex court imposed certain conditions on Karti and directed him to furnish an undertaking in three days that he would abide by the conditions and timeline of his visit.
The Punjab chief minister said he was asked by Kejriwal to visit different places for campaigning for INDIA bloc candidates.
A Delhi court has allowed Congress MP Karti Chidambaram, accused in Aircel-Maxis and INX Media scam cases, to travel to Spain and the United Kingdom from June 25 to July 17.
Indians spent more on foreign investments during the past 12 months than they have since at least 2012.
The government on Tuesday said it will allow setting up of world-class foreign universities in Gandhinagar's GIFT City, free from domestic regulations, to facilitate availability of skilled manpower in the financial services space. In addition, an international arbitration centre will be set up in the GIFT City for timely settlement of disputes under international jurisprudence, Finance Minister Nirmala Sitharaman said while presenting the Union Budget for 2022-23. The centre could be on the lines of the Singapore International Arbitration Centre, or the London Commercial Arbitration Centre.
Apart from them, Chidambaram's wife -- Nalini -- has been chargesheeted by the CBI in the Saradha chit-fund scam for allegedly accepting a bribe of Rs 1.4 crore.
The chargesheet names 14 accused, including the Congress leader's son Karti Chidambaram, Peter Mukherjea and Indrani Mukerjea.
His son Karti was questioned by the agency in the same case on Thursday for about six hours.
Chidambaram has sought interim bail in the INX media money laundering case on medical grounds, saying his condition is deteriorating and he needs to be in a sterile environment.
Apart from INX Media and Aircel-Maxis, the four other firms which are under the scanner are Diageo Scotland, Essar Steel, Katara Holdings and Elforge Ltd. These firms were granted FIPB approval when Chidambaram was the FM, reports Shrimi Choudhary.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Did Sheena Bora board a Jet Airways flight on July 22, 2012, a full three months after her death in April 2012?
Chidambaram complained of illness and pain in the stomach, the sources said, adding that he was treated for gastrointestinal-related problems.
The central probe agency issued a provisional order under the Prevention of Money Laundering Act for attachment of Indian assets in Kodaikanal and Ooty in Tamil Nadu and a flat in Delhi's Jorbagh. A cottage and house in Somerset in the UK and a tennis club located in Barcelona, Spain have also been attached as part of the same order, the agency said.
Referring to the arguments advanced by Chidambaram's counsel on Tuesday that ED wanted to humiliate him by arresting him, Mehta had said, "A victim card is sought to be played. They are saying humiliation. It is not. It is prevention, prevention and prevention with capital P. I am serious about this".
A bench headed by Chief Justice Ranjan Gogoi allowed his plea as Solicitor General Tushar Mehta, appearing for CBI and the Enforcement Directorate, did not oppose.
With the fall of Congress, Chidambaram's political graph too started moving southwards.
Her corporate footprint is fading fast.
SFIO tried to sift through changed names, cross-holdings in INX Group
However, the bench said Chidambaram is at a liberty to seek remedy in accordance with the law.
The CBI also informed that Karti Chidambaram will come back to India on May 24 and he has been directed to appear before them in 16 hours.
A private funeral service was held for Warne's closest friends and family in Melbourne last week but all were invited to Wednesday's televised memorial where his father Keith mourned the loss of "a loving and caring son" and his former team mates remembered a fierce and mischievous competitor.
On the arrest of P Chidambaram, Karti said, "This is like a staged reality show to have all these dramatic visuals on television. There is no reason for this kind of drama... It's not done in an honest investigation.
The court decided the bail petition on three grounds -- flight risk, tampering with evidence and influencing witnesses.
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