[Live Updates From SC] : Chidambaram Bail Hearing

SG : This is not a case cooked up by investigation agencies. It's based on documents and material which traces money to him and his family.

SG- There's a stay on Karti's arrest. Once lifted he'll be arrested

SG- At this crucial stage bail should not be granted. Investigation is still on. It takes time. Things can't be unearthed in a day.

Sibal intervenes as SG talks about some transaction through Kotak Mahindra Bank in 2016. Sibals says that the observations are from Rohit Tandon's case. "HC should not have put facts from Tandon's case here, which is not related to this one", Sibal

SG- 16 companies were involved in laundering and modifying shareholding pattern, 12 accounts are connected. Properties found in 16 countries which can be linked to Chidambaram. I request court to look into the material before deciding.

SG referring to HC order- we agree with the court order, but not with the findings

(Delhi HC had found that Chidambaram satisfied the triple test for granting bail. But rejected bail citing gravity of offence)

"We owe a duty to the international community in this regard(countering money laundering)", says Solicitor General 

SG responding to Singhvi's argument that gravity cannot be a sole ground to deny bail.

"Taking strict action against money launderers was a global initiative as it affects many nations. The gravity therefore, forms a ground for refusing bail"

SG- When Karti was issued summons to disclose his foreign bank accounts, he revealed only 3, but we've found multiple accounts.

SG- We have established link between Chidambaram and others to launder money. Can present transactions in sealed cover.