The Supreme Court, today asked the Madras High Court to decide within two months, the petitions regarding two Look Out Circulars (LOC) issued against Karti Chidambaram and others in a corruption case.
A bench headed by Chief Justice Dipak Misra, however, made clear that the LOCs, issued on June 16 and July 28 last year against them shall remain in force till the Madras High Court takes a decision on the petitions.
The bench ordered that the division bench headed by the High Court Chief Justice will decide the petitions.
The apex court considered the CBI’s submissions regarding its argument that the Madras High Court has no territorial jurisdiction to deal with the LOC cases shall be kept open for adjudication.
The bench also empowered the high court to deal with the applications of the accused seeking permission to go abroad on merits. Earlier, a single judge bench of the Madras High Court had stayed the LOC issued against Karti and others in a graft case.
Karti’s firm received overseas funds to the tune of 305 crore rupees in 2007, when Karti’s father was the Union Finance Minister, after getting clearance from Foreign Investment Promotion Board.>