Earlier on Wednesday, a Delhi court had extended the judicial custody of Chidambaram till November 27 in the INX Media money laundering case.
The Delhi High Court on Friday dismissed the bail application of Congress leader P Chidambaram in the INX Media money laundering case filed by the Enforcement Directorate.
He is currently under judicial custody in the case related to ED's probe into money laundering linked to INX Media corruption case.
Dismissing the bail plea of the former union minister, the High Court observed that "no doubt bail is a right but if granted in such cases it will be against the interest of public at large."
Justice Suresh Kaith observed Allegations are serious in nature, offences are grave in nature and against the society. Court has also mentioned that several payments were made for which investigating agency has recovered several invoices. Court in its order has also said that the material and evidences in ED case are different than that of CBI case. These offences are grave in nature and against the society.
Court in its order has mentioned SG Tushar Mehta's argument that gravity of offence should be considered and that there is cogent evidence that connects the shell companies to the petitioner. Justice Suresh Kumar Kait while dismissing the plea has observed that Chidambaram played an active role in the INX Media scam.
Chidambaram had moved for regular bail in High Court in INX Media money laundering case being investigated by the ED. His Lawyers, Kapil Sibbal and Abhishek Manu Singhvi had argued that he be granted regular bail as Supreme Court had granted him bail in INX media case which is being investigated by CBI. They had insisted that Chidambaram was not a flight risk, there was no question of him influencing the witnesses and tampering with evidence.
ED Counsel SG Tushar Mehta had opposed the bail citing the gravity of the offence, material and evidence collected by the investigating agency which were submitted in court in a sealed cover and that Chidambaram may influence the witnesses.
Earlier on Wednesday, a Delhi court had extended the judicial custody of Chidambaram till November 27 in the INX Media money laundering case filed by the Enforcement Directorate.
On November 2, the ED had opposed former union minister's bail petition in the Delhi High Court, saying that the gravity of offences allegedly committed by him does not entitle him for any relief. It had also claimed that Chidambaram misused his office for personal gains.
Chidambaram has been lodged in Tihar Jail since September 5 in a corruption case related to the alleged scam being probed by the CBI and ED. He was granted bail by the Supreme Court on October 22 in the INX Media corruption case, filed by the CBI.
CBI had arrested P Chidambaram on August 21.
While the CBI is probing the corruption allegations, the ED is looking into money laundering allegations against him in the case.
On May 15, 2017, the CBI had registered a case against INX Media Private Limited for alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance given to the media group.
The company had allegedly received Rs 305 crore as overseas fund in 2007 during Chidambaram's tenure as the finance minister though it had the permission to source foreign investments worth Rs 4.62 Crore only.
The group allegedly received Rs 40.91 crore through a sister company without the necessary approvals from FIPB and violated the Foreign Exchange Management Act (FEMA).
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