Delhi High Court, on Tuesday, has dismissed the anticipatory bail plea of former finance minister P Chidambaram in corruption, money laundering cases related to INX Media scam.
Justice Sunil Gaur had reserved the decision on January 25, News18 reported.
During the arguments, both the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) had opposed Chidambaram’s plea on the ground that his custodial interrogation was required as he evaded questions.
The investigating agencies asserted that during Chidambaram’s tenure, Foreign Investment Promotion Board clearance was granted to INX Media for receiving foreign funds to the tune of Rs 305 crore.
ED argued that the companies in which money was transferred are directly or indirectly controlled by Chidambaram’s son, Karti, and they believe that the FIPB approval was granted to INX Media on his son’s insistence.
Interim protection from arrest was granted to Chidambaram by the high court on July 25, 2018, in both the cases and it was extended from time to time.
His role is under the scanner of various investigating agencies in the Aircel-Maxis deal amounting to Rs 3,500 crore and the INX Media case involving Rs 305 crore.
In the INX Media case, an FIR was registered by the CBI on May 15, 2017, alleging irregularities in the FIPB clearance granted to the media group during Chidambaram’s tenure as finance minister. Later, the ED lodged money laundering case in this regard.