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BIG | Chidambaram Denied Bail By Delhi High Court In INX Media Case

Written By Aishwaria Sonavane | Mumbai | Published:

Former Union Minister P. 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.

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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.

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.

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In the INX Media case, the CBI had registered a First Information Report or FIR on May 15, 2017, alleging irregularities in the FIPB clearance granted to the media group for receiving overseas funds of Rs. 305 crore in 2007 during Chidambaram's tenure as finance minister. Thereafter, the ED had in 2018 lodged the money laundering case in this regard.