Following the development, Chidambaram stayed away from the media, even as the Congress called the probe agencies’ action against him a “political vendetta”.
Chidambaram and his son Karti are being probed by the CBI and the ED for alleged violations of FIPB norms during his tenure as finance minister.
Terming the INX media case
involving Chidambaram a classic "case of money laundering", the single-judge Bench of Justice Sunil Gaur said that granting bail in such cases would send a wrong message to society. The HC noted that as the senior Congress leader was evasive in his replies to the probe agencies, custodial interrogation was required for an effective investigation in the matter.
The judge said, "Facts of the case prima facie reveal that the petitioner is the kingpin, that is, the key conspirator in this case," adding, "It cannot be forgotten that the petitioner was the Finance Minister at the relevant time and he had given FDI clearances to INX Media group for receiving overseas funds to the tune of Rs 305 Crore. Simply because he is a MP would not justify grant of pre-arrest bail to him”.
HOW EVENTS UNFOLDED
May 15, 2017:
CBI registers FIR in INX Media case
alleging irregularities in FIPB clearance to the group for receiving overseas funds of Rs 305 crore in 2007
2018: ED lodges money laundering case. CBI summons Chidambaram for questioning
Chidambaram moves Delhi High Court
seeking anticipatory bail in the corruption case filed by CBI
July 23: Moves Delhi HC for anticipatory bail in the money laundering case filed of ED
July 25: High Court grants him interim protection from arrest in both cases
January 25, 2019: HC reserves its judgement on his anticipatory bail in both cases
August 20: HC dismisses the anticipatory bail pleas. It also declines Chidambaram's request to stay the order for 3 days to enable him to move an appeal in SC