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Is the INX Media is owned by Mukesh Ambani, raises many questions

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INX Media was under probe for diverting foreign direct investment by three Mauritius-based companies in INX Media to its subsidiaries without prior approval of the FIPB. The recent statement by convicted and Former television executive in the INX Media case, Peter Mukherjee, in a statement to the Enforcement Directorate, has claimed that Mukesh Ambani and his friends owned INX Media. This news is raising many questions among the political circle.

 

The then Union Minister P Chidambaram and his son Karti Chidambaram had been implicated by the investigating agencies basis the statements given by Peter Mukherjee and his wife Indrani Mukherjee; P Chidambaram was granted bail after 105 days of custody in Tihar Jail on December 4, 2019.

The firm which is in the bribery scandal has gained fresh headlines as Peter Mukherjee has now stated that INX Media belonged to Mukesh Ambani and his known counterparts – Friends and Family – and the statement implies that the bribe that the ED alleges was paid to P Chidambaram’s son Karti was allegedly done for an Ambani Firm.

What is even more astonishing is the fact that while ED had questioned and even arrested P Chidambaram and his son Karti based on the statements of Peter Mukherjee, it has not sought any clarification or summoned from either Mukesh Ambani or his associates.

Also, Peter Mukherjee has alleged that while both he and his wife held 10% sweat equity, 40% was held by Indrani in ‘holding Capacity’ for Mukesh Ambani and his family and friends.

He also claimed NSR PE, a private equity firm, owned another 20% of the firm, was a vehicle for Ambani’s friends. 

This makes Mukesh Ambani the majority shareholder and investor in INX Media, holding close to almost 60% of the shares. 

Further, Peter Mukherjee has also said that Mukesh Ambani was in direct touch with senior politicians like P Chidambaram and his son Karti and that their daily dealings with Reliance were done through Reliance executives – all of whom are confidants of Mukesh Ambani.

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