Delhi HC Grants Interim Protection To Chidambaram In INX Media Money Laundering Case

Former Union Finance Minister P Chidambaram was on Wednesday granted interim protection by the Delhi High Court from arrest in the INX media money laundering case registered by the Enforcement Directorate.

 Justice A K Pathak granted Chidambaram protection from arrest till August 1.

 He has asked the Congress leader to cooperate with the probe and not to leave the country without court’s permission.

 Chidambaram had moved court seeking anticipatory bail in the case registered by ED and also by the CBI.

 While asking the ED to file its response to his plea for anticipatory bail, the court directed the agency not to take any coercive action till August 1.

 Chidambaram’s counsel said he has been apprehending arrest by the ED since he has already been summoned by the CBI, though he is on anticipatory bail in the said case.

 Additional Solicitor General Tushar Mehta opposed his plea saying he was forum shopping as he moved the trial court for anticipatory bail in the case registered by the CBI and came to the high court for a case registered by the ED.

 The agency says during Chidambaram’s tenure as the finance minister, INX media was wrongfully granted approval by the Foreign Investment Promotion Board (FIPB) for Rs 4.62 crore investment but received Rs 305 crore by sale of shares at a premium of Rs 800 per share instead of Rs 10 as mentioned by the company in its application.