High Court rejects P. Chidambaram’s anticipatory bail in INX Media case

High Court on Tuesday rejected Chidambaram’s anticipatory bail plea in corruption and money laundering case. P. Chidambaram is a Congress leader and former union minister. He has been charged for giving a licence to INX media in the influence of his son Karti Chidambaran.

Justice Sunil Gaur today dismissed all the relief plea submitted by Chidambaran’s lawyer Dayan Krishnan. During the court argument, both CBI and enforcement directorate opposed the bail plea and expressed “proper custody of Chidambaran is mandatory as his behaviour is equivocal from the starting.”

Both the probe agencies CBI and enforcement directorate had contended that during Chidambaram as finance minister in UPA led government. Foreign Investment Promotion Board (FIPB) clearance was granted to the INX Media group for receiving 302 crores overseas fund in 2007. As per the FIPB rules, only 26 per cent of the worth of any media house can be claimed as the overseas fund.