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Karti Chidambaram Arrested By CBI At Chennai Airport In Money Laundering Case

New Delhi : Senior Congress leader P Chidambaram’s son Karti was arrested by the Central Bureau of Investigation (CBI) in a money laundering case in Chennai today. He was taken into custody at the Chennai airport this morning just after he landed on a flight from London. He is currently being questioned inside the airport and will be taken to Delhi later in the day, sources said.

The Enforcement Directorate had filed a case against Karti Chidambaram in May last year alleging irregularities in the grant of Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving foreign investment of over Rs 300 crore in 2007 when P Chidambaram was the union finance minister. Karti Chidambaram is accused of taking a Rs 10 lakh-bribe in the case.

Based on information about alleged illegal payments made by INX media, the CBI filed a separate case against Mr Chidambaram and others.

Sensex Falls Over 250 Points Amid US Rate Hike Worries, Nifty Below 10,500

The BSE Sensex started Wednesday’s session on a lower note, shedding as much as 267 points to touch 34,079 in morning deals. Declines were led by selling witnessed in banking and metal shares – down around 1 per cent. Equities in the other Asian markets faltered after comments from new Federal Reserve Chair Jerome Powell revived fears about faster rate rises in the US. The National Stock Exchange (NSE) benchmark index, Nifty, fell 92 points to trade below the 10,500 mark.

Among the top losers on the 50-scrip Nifty were HPCL, ICICI Bank, Hindalco Industries, Yes Bank and Vedanta – trading between 1.5 per cent and 3 per cent lower. Investors also traded cautiously ahead of GDP growth data for the quarter of October-December, slated for release at 5:30 pm.

A Reuters poll forecast GDP expansion at 6.9 per cent, the fastest in 2017. If there was 6.9 per cent growth, that would top China’s 6.8 per cent annual pace for October-December. The last time the economy had a faster growth rate was in the final three months of 2016.