INX media case: Supreme Court dismisses CBI's review petition against Chidambaram's bail

In a major reprieve for former Finance Minister P Chidambaram, the Supreme Court, on Thursday, rejected the review petition filed by CBI challenging the bail granted to the MP. This development comes three days after the Enforcement directorate filed its first chargesheet against former finance minister P Chidambaram, his son Karti and his chartered accountant SS Bhaskar Raman in the INX Media case. The court is yet to take cognizance of the issue.

INX Media Case: ED files chargesheet against P Chidambaram

SC grants bail to Chidambaram

On December 4, Former Finance Minister and Congress leader P Chidambaram were granted bail, 106 days after being arrested in the INX Media case. Pronouncing the verdict, the Supreme Court said that even if there is an allegation of grave offenses, bail cannot be denied. The Supreme Court also directed Chidambaram to pay a bail amount of Rs 2 Lakh, barred Chidambaram from talking to the media about the case and was not allowed to travel outside India without prior permission of the court.

Dr Swamy predicts 'he can be sent back to jail on a new case' after Chidambaram gets bail

Chidambaram's ED-CBI arrest

The 74-year old former Finance Minister who was granted bail by the Supreme Court on October 22 in the CBI's INX Media corruption case, had been denied bail by the Delhi High Court stating “facts of the case prima facie reveal that” he is the “kingpin that is the key conspirator in the case”. After bail denial, Chidambaram went missing for 27 hours, before he was dramatically arrested by the CBI from his residence. On October 18, the CBI had filed a charge sheet in the INX Media scam in a Special court in Delhi, naming both the Chidambarams. After which, he was kept in jail under the ED's INX media case against him till December 4.

MASSIVE: SC grants P Chidambaram bail in INX Media case 106 days after arrest

INX Media case and Chidambaram

The CBI had registered an FIR on May 15, 2017, alleging irregularities in the Foreign Investment Promotion Board (FIPB) clearance granted to the INX Media group for receiving overseas funds of Rs 305 crore in 2007 during Chidambaram's tenure as the Finance Minister. Thereafter, the Enforcement Directorate had lodged a money laundering case in this regard in 2017. According to the CBI, the Mukerjea couple, who were the owners and founders of INX Media had swung a deal in their favour to secure the FIPB clearance. Indrani turned approver in the case alleged that money had exchanged hands, benefiting one of Karti Chidambaram’s companies in lieu of the FIPB approval.   

INX Media case: SC to hear Chidambaram's plea challenging Delhi HC's order denying bail