INX media case: Delhi HC denies bail to Chidambaram

New Delhi, Nov 14: The Delhi High Court on Friday denied bail application of former Finance Minister P Chidambaram who is lodged in Tihar Jail under judicial custody in the ED's money laundering case on Friday.

The judgment was passed by a Single Judge Bench of Justice Suresh Kumar Kait. He observed that prima facie, the allegations are serious in nature and that P Chidambaram played a "key and active role". The order goes on to state.

Earlier, Chidambaram denied in the Delhi high court the enforcement directorate's claim that he used the office of finance minister for personal gains and laundered the proceeds of crime. He said that no material directly or indirectly linking him with the alleged offence has been put to him so far or placed before the court.

Chidambaram had earlier said that the purpose of ED's opposition to the grant of bail is not to advance the cause of justice but to harm his health which has already suffered severe damage after 75 days of custody since August 21. He also denied in the Delhi high court the enforcement directorate's claim that he used the office of finance minister for personal gains and laundered the proceeds of crime.

He was arrested by the CBI on August 21 in the INX Media corruption case. The case was registered by the CBI on May 15, 2017, alleging irregularities in a 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 finance minister.

The INX Media case pertains to the alleged irregularities in the Foreign Investment Promotion Board clearance to INX Media when P Chidambaram was the finance minister of India.