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1-min read

SC Grants Former Finance Minister P Chidambaram Bail in INX Media Case But ED Custody to Continue

P Chidambaram was arrested in connection with the graft case on August 21 by the CBI, which has recently chargesheeted him and others, including his son Karti and some bureaucrats.

News18.com

Updated:October 22, 2019, 10:46 AM IST
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SC Grants Former Finance Minister P Chidambaram Bail in INX Media Case But ED Custody to Continue
A Delhi court had on October 17 sent former finance minister P Chidambaram for custodial interrogation by the Enforcement Directorate (ED) till October 24. (Image: PTI)

New Delhi: The Supreme Court on Tuesday granted bail to former finance minister P Chidambaram in the INX Media corruption case filed by the CBI. The former finance minister had filed a plea challenging the Delhi High Court verdict denying him bail in the case.

The Congress leader, however, continues to be in custody of Enforcement Directorate (ED) and cannot walk free immediately.

He is now required to submit a bail bond of Rs 1 lakh with two sureties. He will have to submit his passport with the trial court and cannot leave the country without court’s permission.

Chidambaram was arrested in connection with the graft case on August 21 by the CBI, which has recently chargesheeted him and others, including his son Karti and some bureaucrats, for causing loss to the exchequer by allegedly committing offences under the Prevention of Corruption Act and the Indian Penal Code.

The CBI had registered an FIR on May 15, 2017 alleging irregularities in a Foreign Investment Promotion Board (FIPB) clearance granted to INX Media group for receiving overseas funds of Rs 305 crore in 2007, during Chidambaram's tenure as the finance minister.

Thereafter, the ED lodged a money laundering case in this regard in 2017.

The 74-year-old senior Congress leader approached the apex court challenging the September 30 verdict of the high court which had dismissed his bail plea in the INX Media corruption case, filed by the CBI, saying the probe was at an advanced stage and the possibility of his influencing the witnesses cannot be ruled out.

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