It is alleged that Karti was facilitating visas of 250 Chinese nationals after receiving illegal gratification of ₹50 lakh. On the basis of the case registered by the Central Bureau of Investigation (CBI), the ED filed a money laundering case.
Senior Advocate Kapil Sibal, representing Karti, submitted that allegations of concealment, possession and acquisition have to be satisfied before a money laundering charge is invoked.
Sibal also contended that his client had cooperated with the CBI for three days, after which he had been granted protection from the court.
Additional Solicitor General SV Raju opposed the plea, contending that the same was premature, as the investigation hadn’t even begun in the present case.
Karti apprehended his arrest citing the haste with which the enforcement case information report (ECIR) was registered against him.
The allegations in the CBI’s FIR were that Talwandi Sabo Power Limited (TSPL) had paid an amount of ₹50 lakh to Bell Tools Limited (BTL) which in turn relayed it to S Bhaskararaman as gratification for the Chinese visas.
Karti, however, stated that nothing incriminating was found and no incriminating material was seized during the search proceedings against him.
“The gist of the allegations in the subject FIR is that TSPL paid a sum of ₹50 lakh by cheque to BTL, Mumbai and, in turn, the said BTL paid ₹50 lakh by cash to S Bhaskararaman as gratification. There is no allegation that Bhaskararaman paid the whole or any part of ₹50 lakh to the applicant. There is no specific allegation that either Bhaskararaman or the applicant influenced any public servant or paid any gratification to any public servant. In fact, no overt act concerning the transaction in question has been attributed to or alleged against the applicant,” argued the plea.
On May 20, the Court had directed Karti to join and cooperate with the CBI investigation within 16 hours of his return to India.
Besides Sibal, advocates Arshdeep Singh Khurana and Akshat Gupta represented Karti Chidambaram.
ASG SV Raju and advocates Zoheb Hossain and NK Matta represented ED.
Source: Barandbench
