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 INX Media case: Delhi HC rejects PC bail plea
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INX Media case: Delhi HC rejects PC bail plea

Agency News

New Delhi, Nov 15: Justice Suresh Kait of Delhi High Court on Friday dismissed the bail plea of former Finance Minister and Indian National Congress veteran leader P Chidambaram, who is lodged in Tihar jail in the INX Media case, related to alleged irregularities in the Foreign Investment Promotion Board during his watch.

A Special Court had ordered judicial custody of the high-profile politician till November 27, 2019, in the case.

Central Bureau of Investigation had registered an FIR in the month of May 2017 over alleged graft in the FIPB clearance to INX Media for receiving overseas funds of ₹305 crore in 2007, when Chidambaram was Finance Minister.

CBI had arrested Chidambaram from his residence in New Delhi on August 21 on a day of fast-paced developments.

Directorate of Enforcement had registered a case under the provisions of Prevention of Money Laundering Act and obtained the custodial interrogation of Chidambaram ' to unravel the trail of proceeds of crime in the matter.'

CBI had filed a charge sheet on October 18 naming Chidambaram and several others as accused in the case. The Special Court had taken cognizance of the charge sheet.

On October 22, the Supreme Court had granted bail to Chidambaram in the CBI case, rejecting the plea of the probe agency that he may pressurise witnesses or was a flight risk. (UNI)