[Live Updates From SC] : Chidambaram Bail Hearing

SC reserves order. On request of SG, ED is allowed to submit investigation reports in a sealed cover.

Singhvi- Gravity of offence is to be looked at after one's convicted. If not, one will remain in jail till the end of trial.

Sibal says that there is not one bit of reasoning in the HC judgment.

Sibal : I'm willing to assume all of what ED submitted. My question still is, where am I involved?

Sibal- I agree with SG on point of economic offences. But how am I involved here? Beneficiaries being traced to my family members they say, not to me. I have not been charged with conspiracy by the CBI. How does it affect me? I'm here asking for bail

Sibal urges bench to view the timeline of action taken against Chidambaram.

"When he was out, there's no influence. But he's influencing people since he's been inside?"

Sibal stressing that HC reproduced ED allegations :

"Is there one fact in the counter-affidavit of ED apart from allegations pasted by the Judge?"

Sr Adv Kapil Sibal starts rejoinder arguments

"One account, one property, one communication..show me one piece of evidence that links him directly", Sibal 

SG : If his mere presence intimidates, he cannot be granted bail

SG- Threshold for bail in such cases needs to be higher when it comes to economic offences.