BIG: Supreme Court to pronounce verdict on P Chidambaram's bail plea in INX Media Case

The Supreme Court will pronounce its verdict on senior Congress leader and former Finance Minister P Chidambaram’s bail plea on Wednesday. He has already spent over 100 days in custody pertaining to the INX Media case. Earlier, a Delhi court extended his judicial custody till December 11. Chidambaram’s counsels did not oppose this as the hearing of his bail plea was already going on in the SC. On November 15, the Delhi High Court denied bail to the senior Congress leader stating that the Enforcement Directorate (ED) had made an allegation about several shell companies being owned and controlled by people close to Chidambaram and his family members.   

Read: INX Media Case: 6 Bureaucrats Who Worked With P Chidambaram To Appear In Court Today

The INX Media case 

The Central Bureau of Investigation (CBI) had registered an FIR on May 15, 2017, alleging irregularities in the Foreign Investment Promotion Board (FIPB) clearance granted to INX Media for foreign funds of Rs.305 crore during Congress leader P Chidambaram’s tenure as Finance Minister. According to the CBI, the Mukerjea couple, who were the owners and founders of INX Media had swung a deal in their favour to secure the FIPB clearance. Indrani turned approver in the case and gave a confessional statement to a magistrate under Section 164 of the Code of Criminal Procedure (CrPC). Indrani Mukerjea has alleged that money had exchanged hands, benefiting one of Karti Chidambaram’s companies in lieu of the FIPB approval.   

Read: Special CBI Court Allows ED To Interrogate P Chidambaram In Tihar Jail On November 22 & 23

ED questions P Chidambaram in Tihar jail 

Last year, Karti was confronted by Indrani at Byculla jail after his arrest in this case. He was later released on bail. His father P Chidambaram too was also arrested by the CBI on August 22 in the same case. The ED too lodged a money laundering case in this regard. The Supreme Court had granted bail to P Chidambaram on October in the CBI case. However, he remained in ED custody.  On November 22 and November 23, the ED interrogated Chidambaram in Tihar jail after receiving permission from the court.  

Read: Chidambaram Sent To Judicial Custody Till December 11 In ED's INX Media Case

Read: Courtroom Arguments At Summit: Salman Khurshid & Meenakshi Lekhi Faceoff Over Chidambaram