SC Issues Notices On Chidambaram's Bail Plea In INX Media Case

The Supreme Court on Friday issued notice to the CBI on the petition filed by former Union Finance Minister P Chidambaram challenging the September 30 judgment of Delhi High Court that denied him regular bail in INX Media case.

The bench comprising Justices R Banumathi and Hrishikesh Roy posted the case next on October 15 at 2 PM. The bench headed by Justice Banumathi had earlier refused him pre-arrest bail in the case registered by Enforcement Directorate with respect to money laundering allegations in the INX deal.

Yesterday, Senior Advocate Kapil Sibal had mentioned the matter before Justice Ramana for urgent listing.

Chidambaram was arrested from his Jor Bagh residence on August 21 by the CBI and has been custody since then. On September 5, he was sent to Tihar jail after 15 days of CBI custody. The remand period was later extended till October 3. The allegation is that as Union Finance Minister in 2007, Chidambaram took kickbacks for FIPB clearance for the FDI of INX media, and the money was routed through the companies linked with his son Karti Chidambaram.

Dismissing the bail application, Justice Suresh Kumar Kait of Delhi HC said that though Chidambaram does not pose a flight risk and also does not have the power to tamper evidence, he has the potential to influence witnesses considering his stature as a Senior Advocate and his position as a Rajya Sabha MP and former Union Cabinet Minister.

The High Court took note of the 'sealed cover' notes submitted by the CBI, which stated that the accused Peter Mukherjee and Indrani Mukherjee -who controlled INX media - had met Chidambaram even before the filing of application for FIPB approval. The Court said in the judgment that it was on record that large sums of monies had come to the companies owned and controlled by Karti Chidambaram - Chidambaram's son- during the period of FIPB approval to INX Media, even though no services were rendered by those companies. Investigation has also revealed that contemporaneously large number of emails were exchanged between the representatives of INX Media and the company controlled by petitioner and Karti P. Chidambaram, the judgment said.

The High Court observed that economic offences constitute a class apart as it cuts at the root of probity and purity of public administration. An economic offence is committed with cool calculation and deliberate design with an eye on personal profit regardless of the consequence to the Community.

Earlier, Justice Sunil Gaur of Delhi High Court had dismissed his application for anticipatory bail.

The ED has registered a separate case under Prevention of Money Laundering Act in respect of the money laundering allegations. The CBI case is with respect to corruption allegations.