INX Media case: Delhi HC reserves order on Chidambaram's bail

New Delhi, Sep 27: The Delhi High Court on Friday reserved its verdict on senior Congress leader and former union minister P Chidambaram's bail plea in connection with the INX Media case.

Chidambaram is being probed by the CBI in the INX Media case in which he is an accused. The former finance minister is in jail in connection with INX Media case. He also faces charges in the Aircel maxis case. Chidambaram was arrested by the Central Bureau of Investigation (CBI) on August 21 in INX media case.

Chidambaram is accused of facilitating in 2007, as the country's finance minister, a huge infusion of foreign funds into the company INX Media. His son Karti Chidambaram is accused of receiving kickbacks for facilitating the process.

On September 11, Chidambaram moved the Delhi High Court for bail in the INX Media case. His counsel challenged the trial court order remanding him to 14 days judicial custody in the case till September 19.

On September 19, Chidambaram was produced in a Delhi court on the expiry of his 14-day judicial custody. The CBI sought an extension of the veteran Congress leader's judicial remand before Special judge Ajay Kumar Kuhar. Senior advocate Kapil Sibal, appearing for Chidambaram, opposed the investigative agency's plea to extend his judicial custody.

Today, Justice Suresh Kait concluded the hearing on the petition filed by Chidambaram challenging the trial court''s decision to deny him the bail. Chidambaram, arrested on August 21 by the CBI from his Jor Bagh residence, is in Tihar Jail under judicial custody till October 3.

The CBI had registered an FIR on May 15, 2017, alleging irregularities in the 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 ED lodged a money laundering case in this regard in 2017.