INX Media case: Delhi high court rejects P Chidambaram's bail plea

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 May 2017 over alleged graft in the FIPB clearance to INX Media for receiving overseas funds of Rs 305 crore in 2007, when Chidambaram was Finance Minister.

"No doubt bail is his right, but if granted in such cases, it is against the interest of the public at large," the court stated. 

The Enforcement Directorate (ED), which is probing the money laundering case, had arrested Chidambaram last month. He is currently lodged in judicial custody in Tihar jail. 

The Congress leader had sought a regular bail by asserting that no part of the triple test, which includes flight risk, influencing witnesses and tampering with evidence, has been made out against him. His bail plea was opposed by the ED. 

The agency asserted that Chidambaram used the high office of the country "for his personal gains".

"Proceeds of crime were generated on the act done by P Chidambaram in his capacity as the finance minister. Considering the gravity of the offences against him, bail should not be granted," the agency submitted. 

The case pertains to an FIR registered by the CBI for alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance given to INX Media to the tune of Rs 305 crore in 2007 by Chidambaram when he was the Finance Minister. 

Thereafter, a case was registered by the ED. Chidambaram was granted bail by the Supreme Court on October 22 in the INX Media corruption case being probed by the Central Bureau of Investigation (CBI). 

(With inputs from ANI)