New Delhi: Things are looking bleak for former Finance Minister and Congress leader, P. Chidambaram, as Delhi High court rejected his two anticipatory bail in the INX Media scam case. This means that his arrest is likely in the case.
The Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) had filed cases against the Congress leader for his role in clearance given to the INX Media group for receiving foreign funds amounting to Rs. 305 crore.
The CBI registered a case in 2017 followed by the ED which began investigation into the scam in 2018. The CBI accuses that there is irregularities in the Foreign Investment Promotion Board (FIPB) clearance given to INX Media for getting the funds.
The ED is investigating the money laundering angle in the scam. According to the agency in 2007, when Chidambaram was Finance Minister and controlled FIPB, he had helped the company get clearance for getting overseas funds at the behest of his son Karthi Chidambaram.
The agency further alleges that bribe money was then transferred directly or indirectly to companies controlled by Karti Chidambaram.
P. Chidambaram had appealed for anticipatory bail in both CBI’s and ED’s cases. However, Justice Sunil Gaur rejected both his petitions seeking anticipatory bails making his arrests more likely.
During the deliberations in the court, the counsels for CBI and the ED argued that they need the custody of Chidambaram as he had been evasive during questioning.
After his anticipatory bail petition was dismissed, Chidambaram’s lawyer sought a stay on the execution of the order for three days.