According to reports, the raid may be followed in his native place Karaikudi also. The raids are happening at around 14 different locations in Chennai.
As per CBI sources, the raids are taking place against Karti over a case against Karti for favouring a private company.
Commenting on the CBI raids, Chidambaram lashed out at the Government and said, "FIPB approval is granted in hundreds of cases. The five Secretaries who constitute the FIPB, the officials of the FIPB Secretariat and the competent authority in each case are the public officials. There is no allegation against any of them. There is no allegation against me."
He added saying, "Every case was processed according to law and approval was granted or refused in accordance with the recommendations of the FIBP consisting of five Secretaries to the Government of India."
"The government, using the CBI and other agencies, is targeting my son and his friends. The government's aim is to silence my voice and stop me from writing, as it has tried to do in the cases of leaders of Opposition parties, journalists, columnists, NGOs and civil society organizations. All I will say is, I shall continue to speak and write."
As per sources, Karti accepted a huge amount of money as bribe in lieu of the favour rendered to the private company. As per sources, the raids came after CBI filed a case against Karti for taking bribe.
Though the CBI is yet to make any official statement on the matter, the sources have said that the statement would come only after the raids are over.
Chidambaram and his son have also been accused in the Aircel Maxis case. It is also being said that the raids could be linked to clearances given to INX media, which was once owned by Peter Mukerjea .
Karti, who is facing money laundering charges in connection with the Aircel-Maxis deal, has been raided at his offices in the past as well. Further details are awaited.