The Supreme Court on Wednesday granted bail to the former Finance Minister and Congress leader P Chidambaram in the INX Media money laundering case registered by the Enforcement Directorate (ED), allowing the former finance minister to leave Tihar jail after 105 days in custody.
INX Media Case Updates
A three-judge bench headed by Justice Banumathi granted him bail on a personal bond of Rs 2 lakh with two sureties of the like amount and also asked him to surrender his passport. Justice AS Bopanna who read out the verdict for the three-judge bench said that the economic offences fall under the category of grave offences but bail should not be denied in all economic offences.
Granting him bail, the top court said that Chidambaram should not tamper with the evidence and not influence the witnesses. The court further ordered him not to give press interviews or make public statements in connection with the case. Also, Chidambaram cannot leave the country without the prior permission of the court.
The order granting bail to Chidambaram will not have bearing on any other accused in the case, the bench also comprising justices Hrishikesh Roy and AS Bopanna ruled. The court said in its order, “The availability of the appellant for further investigation, interrogation and facing trial is not jeopardized and he is already held to be not a ‘flight risk’ and there is no possibility of tampering the evidence or influencing the witnesses.”
Earlier, the Delhi High Court had on November 15 rejected his bail plea in the INX media case stating that prima facie the allegations are serious in nature and P Chidambaram played a “key and active role” in the money laundering case.
Chidambaram gets bail from SC after 105 days in Tihar jail
Chidambaram was first arrested by the Central Bureau of Investigation (CBI) on August 21 in the INX Media corruption case and was granted bail by the Supreme Court on October 22. His arrest came after the Delhi High Court rejected his pre-arrest bail. He was in between arrested by the ED in the money laundering case on October 16.
Congress veteran Chidambaram is under probe by the Central Bureau of Investigation (CBI) and ED over alleged irregularities in the FIPB clearance granted to INX Media for receiving overseas funds of Rs 305 crore in 2007 during his tenure as Union Finance Minister.
The ED suspects the Congress leader and his son Karti of owning several immovable properties and over 16 bank accounts in other countries, which they are trying to identify to trace the money trail.
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