INX Media Case: Delhi Court extends P Chidambaram's judicial custody till November 27
While the CBI is probing the corruption allegations, the ED is looking into money laundering allegations against him in the INX Media case.
A Delhi court on Wednesday extended the judicial custody of senior Congress leader P Chidambaram till November 27 in the INX Media money laundering case filed by the Enforcement Directorate.
The former finance minister was produced before the court via video conferencing as his judicial custody in the ED case was expiring on Wednesday.
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 last month granted bail in the INX Media case registered by the Central Bureau of Investigation (CBI). CBI had arrested P Chidambaram on August 21.
While the CBI is probing the corruption allegations, the Enforcement Directorate (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).