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INX Media Case: Delhi court extends Chidambaram’s judicial custody till Dec 11

He was under judicial custody in the case related to ED's probe into money laundering linked to the INX Media corruption case, following his arrest on October 16.

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A special CBI court in Delhi on Wednesday extended the judicial custody of former Union Minister P Chidambaram till December 11 in the INX Media money laundering case. Chidambaram's judicial custody ended today and he was produced before the court at the end of his term in jail.

He was under judicial custody in the case related to ED's probe into money laundering linked to the INX Media corruption case, following his arrest by the investigative agencies.

Abhishek Manu Singhvi, senior counsel appearing on behalf of Chidambaram, argued that the only reason behind denying him bail in the case was due to the "gravity" of the offence. He said that the court should refrain from "going into merit” of the case in bail matters.

On November 15, the high court had dismissed the bail application of the former union minister observing that no doubt bail is a right but if granted in such cases it will be against the interest of the public at large."

Justice Suresh Kaith observed allegations are serious in nature, offences are grave in nature and against society. Court has also mentioned that several payments were made for which investigating agency has recovered several invoices. The court in its order has also said that the material and evidence in ED case are different than that of CBI case. These offences are grave in nature and against society. 

The 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.

Earlier, 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. 

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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