After former Union Minister P Chidambaram has been denied bail by the Supreme Court, sources said that CBI and the Enforcement Directorate (ED) has traced his foreign assets. Sources have told Republic that the source of his investments is still not clear. Moreover, the ED is suspecting kickback received in the Aircel Maxis case and INX media case was diverted to buy the foreign assets. 

READ: After being denied bail, CBI at P Chidambaram's house in New Delhi

Even as Chidambaram was untracable after the Delhi High Court's verdict, and Enforcement Directorate and the CBI could not find him at his residence on Tuesday, Republic has learnt that this is fresh evidence gathered by ED. However, at this stage, ED doesn’t want to reveal the details of the foreign assets. The sources said that the backlink to the deal and foreign assets should be viewed in the light that Indrani Mukherjee has also named Chidambaram in her statement after she turned an approver.

READ: Chidambaram missing after bail denial, here's where he was last seen

Delhi High Court rejected anticipatory bail plea of Chidambaram

On Tuesday, Chidambaram has been denied bail by the Delhi High Court in the INX Media Case. The senior Congress leader had approached the Court with an anticipatory bail application in the corruption and money laundering case. During arguments, both the CBI and the Enforcement Directorate had opposed Chidambaram's plea on the ground that his custodial interrogation was required as he was evasive during questioning.

READ: Chidambaram escape plan? 'He's on the run', say sources

Both the probe agencies had contended that during Chidambaram's tenure as finance minister, FIPB clearance was granted to the media group for receiving overseas funds of Rs. 305 crore in 2007. The high court had on July 25, 2018, granted interim protection from arrest to P Chidambaram in both the cases and it was extended from time to time. The senior Congress leader's role had come under the scanner of various investigating agencies in the Rs. 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs. 305 crore.

READ: After being denied bail, CBI at P Chidambaram's house in New Delhi

It was during his tenure as finance minister in the UPA-I government that clearances from the Foreign Investment Promotion Board (FIPB) were given to the two ventures.

Here are his pictures when he was last seen in the day: 

READ: BIG | Chidambaram denied bail by Delhi High Court in INX Media Case