Karti Chidambaram may face more trouble as Central Bureau of Investigation and Enforcement Directorate has indicated at registering a few more cases against him. Karti, son of P. Chidambaram, was arrested by CBI on Wednesday and presented at court same evening. He was sent to CBI custody till March 06.

According to CBI and ED, junior Chidambaram had an association with a firm which facilitated some other firms to procure Foreign Investment Promotion Board (FIPB) approvals. The agencies claimed to have found some evidence pointing out the irregularity.

Karti Chidambaram controlled Advantage Strategic Consulting Private Limited (ASCPL). Allegedly, ASCPL has received payments by two firms when those firms had applied for permission from the FIPB to get foreign investments and the firms were granted permission after monetary transactions between the firms and junior Chidambaram’s ASCPL. The agencies are probing into the matter currently.

Junior Chidambaram’s counsel Abhishek Manu Singhvi, has denied any knowledge about the fresh allegations. He reiterated that the case has been registered out of the blue. He further said that every allegation will be answered to befittingly.

Karti Chidambaram is in CBI custody in connection with the INX Media money laundering case. ED is investigating ASCPL already pertaining to the Aircel Maxis