Karti Chidambarm, son of former Union Finance Minister P. Chidambaram was arrested by the Central Bureau of Investigation (CBI) here on Wednesday, said an official.

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He was arrested in connection with the alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance in the INX Media case, the CBI official added.

The agency is investigating the junior Chidambaram`s role in facilitating the FIPB clearance for INX Media when his father was the Finance Minister.

Karti Chidambaram is alleged to have received Rs 3.5 crore from the Mumbai-based INX Media, now 9X Media, for helping it get the clearance. It was then run by Peter Mukerjea and Indrani Mukerjea.