Friday, October 23, 2020

India: Former finance minister Chidambaram denied bail in INX media money laundering case

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The Delhi High Court on Friday denied bail to former Union Minister P Chidambaram in the INX Media money laundering case being probed by the Enforcement Directorate (ED).

Justice Suresh Kumar Kait while dismissing Chidambaram’s bail plea observed that, “Prima facie, the allegations are serious in nature and that P Chidambaram played a key and active role. The entire community would be aggrieved if such offenders are not booked.”

Chidambaram, who was sent to Tihar jail till November 13 by the trial court in the INX Media money laundering case, was arrested by the CBI on August 21 in the INX Media corruption case.

The INX Media case pertains to the alleged irregularities in the Foreign Investment Promotion Board clearance to INX Media when P Chidambaram was the Finance Minister of India.

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As per Central Bureau of Investigation (CBI) and ED – P Chidambaram and his son Karti Chidambaram received illegal gratification from INX Media owners Peter and Indrani Mukherjea for the clearance.

Chidambaram in his bail plea had argued that his arrest was malafide and done with the intention to harm his reputation. It was further claimed that he should be enlarged on bail as there was no incriminating evidence against him and all other accused in the case were already on bail.

Opposing the bail, ED had argued that the manner in which the high office of the country was misused by Chidambaram for personal gains disentitled him from seeking any relief.

Chidambaram is presently in judicial custody till November 27.

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