SC Directs Release Of Rs 10 Crores Deposited By Karti Chidambaram

The Supreme Court on Wednesday directed the release of Rs. 10 Crore deposited by Karti Chidambaram as security for permission to travel abroad.

The Bench comprising of Chief Justice SA Bobde, Justice Indu Malhotra and Justice Hrishikesh Roy directed the Registry to release the amount deposited by the Congress MP earlier this year as security to participate in a tennis tournament.

On February 14, 2020 the Apex Court had allowed the Sivaganga MP to travel to France and the U.K that same month, on the condition that he deposited Rs. 10 Crore as surety with the Supreme Court Registry.

Having attended the 2 week long tournament, Chidambaram sought for his deposit to be released as he had returned on the dates promised, in compliance with directions of the Top Court.

Chidambaram is being investigated on charges of receiving foreign funds worth Rs 305 Crore for Foreign Investment Policy Board (FIPB) clearances to INX Media during the time when P Chidambaram, his father, was the Union Finance Minister. While granting him bail, the Apex Court had restrained him from leaving country except with Court's permission.

In 2019 as well, Karti was permitted to travel abroad and attend two tournaments (in Feb-March and May-June) on the same conditions, after which the Apex Court eventually allowed him to take back his deposits in January, 2020.