Supreme Court grants bail to Chidambaram in INX Media case by CBI
The Supreme Court on Tuesday granted bail to former union finance minister P Chidambaram in the INX media case registered by the CBI.
The relief from the Supreme Court for Chidambaram came on Tuesday -- around two months after he was arrested.
Congress leader P Chidambaram is currently in the custody of Enforcement Directorate (ED) till October 24 in the INX Media case.
The judgment was rendered by the Bench of Justices R Banumathi, AS Bopanna, and Hrishikesh Roy in a petition filed by the former Union Minister seeking bail in the case filed by the CBI against him.
The decision of the Delhi High Court denying Chidambaram bail has thus been set aside. The Supreme Court has also held that the findings of the High Court are not to have a bearing on the proceedings in the case.
Chidambaram will have to surrender his passport and submit himself for investigations when required.
The former union minister will also have to submit personal bail bonds of one lakh and two sureties of the same amount. He cannot leave the country without the permission of the trial court.
Chidambaram was arrested by the CBI on August 21 shortly after his anticipatory bail was rejected by the Delhi High Court and before the appeal against the same could be taken up by the Supreme Court.
The CBI registered an FIR on May 15, 2017 alleging irregularities in a Foreign Investment Promotion Board (FIPB) clearance granted to INX Media group for receiving overseas funds of Rs 305 crore in 2007, during Chidambaram's tenure as the finance minister.
Thereafter, the ED lodged a money laundering case in this regard in 2017.
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