A file photo of Indrani Mukerjea.

MUMBAI: The Enforcement Directorate told a special CBI court on Thursday that Indrani Mukerjea entered into a conspiracy with the finance ministry brass in 2007 to secure clearance for a “deceitful and fallacious proposal” of her INX Media for accessing foreign funds.

Seeking the court’s permission to question her in a money laundering case, the ED alleged that the proposal, which helped Indrani, her spouse Peter Mukerjea and the latter’s son Rabin siphon off Rs 772 crore, was “favourably considered by finance ministry officials and approved by the then finance minister (P Chidambaram)”.

The ED said that on May 31, 2007, the Foreign Investment Promotion Board (FIPB) permitted INX Media to receive foreign investment of Rs 46.2 million as total investment flow including premium.

However, INX Media received foreign investment totalling Rs 3,053.6 million between August 22, 2007 and May 12, 2008, the ED claimed. “Thus excess foreign exchange equivalent to Rs 3,007.4 million, beyond the disclosed foreign investment was received by INX Media from three Mauritius-based foreign investors,” the agency told the court which granted it permission to question Indrani on Friday and December 6.

In May, the ED registered a case against Indrani in a money laundering case allegedly involving Chidambaram’s son, Karti. The CBI is also investigating a corruption case against Karti, Indrani, Peter, INX Media and some related companies.

Indrani is currently in judicial custody in the Sheena Bora murder case, making it necessary for the ED to seek permission to question her from the CBI court which is trying her, Peter and her ex-husband Sanjeev Khanna.

The ED further said it suspected that Indrani’s stepson and husband Peter’s son, Rabin Mukerjea, was among those who had laundered money. “Rabin Mukerjea; the company Grant Central Entertainment LLP, UK; Peter Mukerjea; Indrani Mukerjea and others have laundered money and are involved in financial transactions in the UK connected with the illicit funds generated in India,” the ED application said.

The agency claimed that Peter and Indrani allegedly siphoned off 90 million pounds (Rs 772 crore) and this money was suspected to have gone to overseas countries through hawala channels.

The ED said it suspected that illicit funds generated by Peter and Indrani were siphoned off to overseas destinations and routed back to the UK and India through Mauritius-based foreign investors. “It is also revealed during the investigations that Rabin Mukerjea is handling the funds of Peter and Indrani which were held in the form of bonds in New Zealand. It is suspected that Rabin Mukerjea has ownership or associations of three bank accounts in the Royal Bank of Scotland and accounts in ANZ Bank,” the ED claimed.

The ED said Indrani’s examination was required as investigations into the money laundering case was in progress.

ED suspects elder son of Peter too laundered fun

The ED said that on May 31, 2007, the Foreign Investment Promotion Board (FIPB) permitted INX Media to receive foreign investment of Rs 46.2 million as total investment flow including premium.

However, INX Media received foreign investment totalling Rs 3,053.6 million between August 22, 2007 and May 12, 2008, the ED claimed. “Thus excess foreign exchange equivalent to Rs 3,007.4 million, beyond the disclosed foreign investment was received by INX Media from three Mauritiusbased foreign investors,” the agency told the court which granted it permission to question Indrani on Friday and December 6.

In May, the ED registered a case against Indrani in a money laundering case allegedly involving Chidambaram’s son, Karti. The CBI is also investigating a corruption case against Karti, Indrani, Peter, INX Media and some related companies. Indrani is currently behind bars in the Sheena Bora murder case, making it necessary for the ED to seek permission to question her from the CBI court.

The ED further said it suspected that Indrani’s stepson and husband Peter’s son, Rabin Mukerjea, was among those who had laundered money.

“Rabin Mukerjea; the company Grant Central Entertainment LLP, UK; Peter Mukerjea; Indrani Mukerjea and others have laundered money and are involved in financial transactions in the UK connected with the illicit funds generated in India,” the ED application said.

The agency claimed that Peter and Indrani allegedly siphoned off 90 million pounds (Rs 772 crore) and this money was suspected to have gone to overseas countries through hawala channels. The ED said it suspected that illicit funds generated by Peter and Indrani were siphoned off to overseas destinations and routed back to the UK and India through Mauritius-based foreign investors.

“It is also revealed during the investigations that Rabin Mukerjea is handling the funds of Peter and Indrani which were held in the form of bonds in New Zealand. It is suspected that Rabin Mukerjea has ownership or associations of three bank accounts in the Royal Bank of Scotland and accounts in ANZ Bank,” the ED claimed. The ED said Indrani’s examination was required as investigations into the money laundering case was in progress.

