SC Grants Chidambaram Bail In INX Media Case Lodged By The CBI, But He Will Remain In Jail Under Custody Of The ED

The Supreme Court has granted bail to former finance minister P Chidambaram in the INX Media corruption case lodged by the Central Bureau of Investigation (CBI), two months after he was arrested.

However, Chidambaram will continue to remain in jail since he is presently in the custody of the Enforcement Directorate (ED), in the INX Media money laundering case.

A Supreme Court bench headed by Justice R Banumathi has set aside the Delhi High Court's September 30 verdict denying bail to Chidambaram in the INX Media case, adding that Chidambaram will make himself available for interrogation as and when needed.

It may be recalled that Chidambaram was arrested in connection with the graft case on August 21 by the CBI.

Recently, the CBI 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 against him in this regard in 2017.

Chidambaram had approached the Supreme Court challenging the September 30 verdict of the Delhi High Court which had dismissed his bail plea in the INX Media corruption case, filed by the CBI, stating that the possibility of his influencing the witnesses could not be ruled out.