Prosecutors say Chidambaram as the country's finance minister in 2007 facilitated 3 billion rupees ($43 million) in foreign investment in an Indian media company, which allegedly paid kickbacks to his son, Karti Chidambaram. His son has been named as a defendant in the case. Times Now television channel quoted the CBI as saying that kickbacks amounted to $5 million.
Chidambaram and his son deny the allegations and accuse Prime Minister Narendra Modi's government of pursuing a political vendetta. Modi's Hindu-nationalist Bharatiya Janata Party came to power after defeating a Congress party government in 2014 and won a second term in 2019 national elections.