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SC seeks documents to justify lookout notice against Karti

11 October 2017

The apex court has adjourned the matter for further hearing till Tuesday.

He also sought the court's permission to travel overseas, from October 19 to November 13, for the admission of his daughter to Cambridge University. He said that he needed to make this trip as he had to admit his daughter for higher studies at the Cambridge University for the year 2018-19.

The affidavit by Karti Chidambaram said that all remittances in his British account were only from his wife and daughter's disclosed bank accounts in India.

He alleged that when Karti had gone overseas earlier, he had to close his account as there was pressure on the bank to close it.

"As a result of my political affiliation (as well as that of my father), I am classified as a "politically exposed person" (PEP) for the purposes of banking in various global jurisdictions and hence am subject to enhanced Know Your Customer norms..." He also stated that the banks in the United Kingdom have strict laws for opening bank accounts for "Politically Exposed Persons" and because of his father's political clout, they were subjected to rigorous scrutiny by the worldwide banks. This was opened in June 2016, he also said. However, he said that his family has only one overseas property, which was acquired by transfer of funds through nationalised bank in India under the RBI's LRS by following due process of law.

Meeting the arguments by the CBI, Sibal told the court that when the investigating agency knows about the undisclosed overseas assets and accounts of his client, it would also come to know if he tampers with them.

Stressing that "tampering is the most potential apprehension that I have", Additional Solicitor General Tushar Mehta told the court that it can look into the material that the Central Bureau of Investigation (CBI) has submitted.

This is in clear contradiction to what Karti, had tol d the agency-that he had just one account.

The Supreme Court on Tuesday asked the CBI to show documents to justify its lookout circular against Karti Chidambaram to prevent him from going overseas.

Karti Chidambaram is facing probe for his alleged role in FIPB clearance for INX Media Ltd when his father was the Union Finance Minister.

The CBI has alleged that there were official records to show that Karti Chidambaram had tampered with evidence against him in the INX media case on his visits overseas. "The FIR in the INX Media case is a politically motivated FIR meant to embarrass and humiliate me and the members of my family", Chidambaram added. Karti Chidambaram arguing through his counsel said that the CBI has claimed that he had properties all across the world.

The agency had said that there was a need to issue a LoC against Karti as he had the "potential" to tamper with the evidence and he had done this during his visits overseas. However during the questioning the CBI did not ask me one question about it, he also submitted.

SC seeks documents to justify lookout notice against Karti