The Directorate of Enforcement (ED) has placed a prosecution order against former Finance Minister P Chidambaram in connection with the money laundering case of INX Media Pvt Ltd before the special Delhi PMLA court to expedite the trial in the matter.The anti-money laundering agency had initiated investigation under PMLA, 2002, based on the FIR registered by the CBI in May 2017 against INX Media Pvt Ltd, INX News Pvt Ltd, Karti P Chidambaram and others for offences punishable under Section 120-B read with Section 420 of the Indian Penal Code, 1860 and Sections 8, 13(2) & 13(1)(d) of the Prevention of Corruption Act, 1988.Investigation has revealed that the erstwhile Foreign Investment Promotion Board (FIPB) approval was granted to INX Media Pvt Ltd during the tenure of Chidambaram as the Finance Minister. It was further revealed that, in consideration for granting and subsequently regularising the FIPB approval, illegal gratification was allegedly demanded and received through entities beneficially owned or controlled by Karti P Chidambaram, who is the former Finance Minister’s son.The probe further revealed that such amounts were routed through shell companies, including Advantage Strategic Consulting Pvt Ltd, and associated entities which were under direct or indirect control of and beneficially owned by Karti. These funds were layered and integrated through investment in shares of Vasan Health Care Pvt Ltd and AGS Health Care Pvt Ltd, and subsequently multiplied through sale of shares and overseas investments.It was also found during the course of probe that Karti and his close associates, allegedly acted on behalf of Chidambaram, interacted with people of INX Media in connection with FIPB approval matters and allegedly collected proceeds of crime arising therefrom. The proceeds were allegedly routed through shell companies incorporated for the purpose of laundering, layered through complex transactions across multiple jurisdictions without any genuine business activity, and structured to conceal the money trail. The funds were thereafter used for deposits in bank accounts and for investment in movable and immovable properties in India and abroad in the names of shell entities and associates.The total proceeds of crime have been quantified at approximately Rs 65.88 crore. Proceeds of crime amounting to Rs 53.93 crore and Rs 11.04 crore have been provisionally attached under the provisions of PMLA.Subsequently, a chargesheet under Sections 44 and 45 read with Sections 3 and 4 of PMLA was filed before the special PMLA Delhi court on June 1, 2020 and its cognizance was taken on March 24, 2021 wherein P Chidambaram, Karti and other eight parties have been arrayed as accused. Thereafter, a supplementary chargesheet was filed on December 16, 2024.