INX Media case: Delhi HC dismisses P Chidambaram's anticipatory bail plea

Delhi High Court has dismissed former Finance Minister and Congress leader P Chidambaram's anticipatory bail plea in connection with the INX Media case. P Chidambaram has now moved the Supreme Court over the order.

P Chidambaram's counsel argued that the case pertains to alleged irregularities in granting Foreign Investment Promotion Board (FIPB) clearance in 2007 but the investigation was initiated by ED and CBI only in 2018. He also said that the FIR in the case does not name him as an accused and also the sections mentioned in the FIR could not make a case against him.

The counsels of Congress leader also argued that the court needs to only look into the merits of the case and needed to be satisfied on three conditions before granting bail - absence of flight risk, no risk of evidence tempering and being available for further investigation.

During the arguments, both the CBI and the Enforcement Directorate had opposed Chidambaram's plea on the ground that his custodial interrogation was required as he was evasive during questioning.

Both the probe agencies had contended that during Mr Chidambaram's tenure as finance minister, FIPB clearance was granted to the media group for receiving overseas funds of Rs 305 crore in 2007.

P Chidambaram was represented by senior advocates Kapil Sibal and Abhishek Manu Singhvi. His son, Karti Chidambaram was granted bail in the case by a high court last year.

The senior Congress leader's role had come under the scanner of various investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.

In the INX Media case, the CBI had registered an FIR on May 15, 2017 alleging irregularities in the FIPB clearance granted to the media group for receiving overseas funds of Rs 305 crore in 2007 during Mr Chidambaram's tenure as finance minister. Thereafter, the ED had in 2018 lodged the money laundering case in this regard.

Also read: ED summons former Finance Minister P Chidambaram in multi-crore aviation scam