INX Media: SC verdict on Chidambram’s bail plea today

The court took cognisance of the report and directed the ED to produce him before it on October 24

NEW DELHI: The Supreme Court is scheduled on Tuesday to pronounce judgement on former finance minister P Chidambaram’s plea challenging the Delhi High Court verdict denying him bail in the INX Media corruption case.

Chidambaram was arrested in connection with the graft case on August 21 by the CBI, which has recently charge sheeted him and others, including his son Karti and some bureaucrats, for causing loss to the exchequer by allegedly committing offences under the Prevention of Corruption Act and the Indian Penal Code. Chidambaram is presently in the custody of the Enforcement Directorate (ED) in the INX Media money laundering case.

The CBI had registered an FIR on May 15, 2017 alleging irregularities in a Foreign Investment Promotion Board (FIPB) clearance granted to INX Media group for receiving overseas funds of Rs 305 crore in 2007, during Chidambaram’s tenure as the finance minister.

Thereafter, the ED lodged a money laundering case in this regard in 2017.

Court takes cognisance of charge sheet

A Delhi court on Monday took cognisance of a charge sheet filed by the CBI in the INX Media corruption case against Chidambaram and 13 others.

The probe agency has claimed in the final report that Chidambaram “misused his official position”, in conspiracy with his son Karti and others, in granting approval to a FDI proposal of INX Media and INX News Pvt Ltd in lieu of “illegal gratification” in India and through offshore payments.

The court took cognisance of the report and directed the ED to produce him before it on October 24, when the 74-year-old’s custody is scheduled to end.

The court, however, summoned his son Karti and 12 other co-accused on November 29 in the case