In a big blow to senior Congress leader P. Chidambaram, the Delhi High Court on Tuesday dismissed the anticipatory bail moved by the former Union Finance Minister in connection with the INX Media case.
“Bail application dismissed,” Justice Sunil Gaur said.
The case relates to a First Information Report (FIR) registered by the CBI on May 15, 2017 against alleged irregularities in the Foreign Investment Promotion Board clearance provided to INX Media for receiving overseas funds to the tune of ₹305 crore in 2007 when Mr. Chidambaram was the Minister.
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In 2018, the Enforcement Directorate (ED) lodged a money laundering case in this regard.
On July 25 last year, the High Court granted interim protection to Mr. Chidambaram from arrest till August 1. While the interim protection has been extended from time to time by the court, it had also directed Mr. Chidambaram to cooperate with the investigating agencies.
On January 25 last, the court reserved its order.
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During the arguments, both the CBI and the ED had opposed Mr. Chidambaram’s plea on the ground that his custodial interrogation was required as he was evasive during questioning.