After being in custody since August 21, former Union Finance Minister P Chidambaram would now walk free.
The Supreme Court on Wednesday granted him bail in a money laundering case registered in connection with the INX media scam.
The INX Media case is related to alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance granted to the INX Media group in order to receive overseas funds in 2007 to the tune of Rs 305 crore. P. Chidambaram was the finance minister during that time.
A top court bench of justices R Banumathi, AS Bopanna and Hrishikesh Roy, granted P Chidambaram bail and said the “complicity of accused will have to be established in the trial.”
Chidambaram is expected to cooperate with further investigation and cannot leave the country without permission by a special judge. The bench also said a bail bond of Rs 2 lakh has to be executed with two sureties. He also cannot make public statements or press interviews with regard to the case.
Previously, The Central Bureau of Investigation (CBI) had arrested Chidambaram on August 21, from his house in Jor Bagh, Delhi. Initially, he was in police custody and was later sent to Tihar Jail.
Chidambaram was granted bail in the CBI case by the top court on October 22. The Enforcement Directorate (ED) had arrested P Chidambaram before the bail under the Prevention of Money Laundering Act (PMLA) also in the INX Media case.
Chidambaram further approached the Delhi high court for bail. His plea was rejected by the high court and he then appeared in the Supreme Court against the high court judgment.
P. Chidambaram’s son, Karti Chidambaram on Wednesday welcomed the decision of the Supreme Court to grant bail to his father after he spent over 100 days behind bars.
“Phew. At last after 106 days,” tweeted Karti, a member of Parliament from Tamil Nadu’s Sivaganga district.
Phew. At last after 106 days 🙂
— Karti P Chidambaram (@KartiPC) December 4, 2019