INX Media case - Trouble not over for Chidambaram

On Wednesday The Apex court refused to grant an urgent hearing on his plea seeking protection from arrest.

On Tuesday Delhi High Court also rejected his plea for anticipatory bail.

Seems that the trouble of former finance minister P. Chidambaram is nowhere to end soon. On Wednesday The Apex court refused to grant an urgent hearing on his plea seeking protection from arrest.

On Tuesday Delhi High Court rejected his plea for anticipatory bail stating that this “is a classic case of money laundering” and it is of prima facie opinion that his custodial interrogation is required for an effective investigation into the matter. Justice Sunil Gaur, who dismissed Chidambaram's anticipatory bail plea also said that granting bail in such cases will send a wrong message to the society.

It all started when on May 15 2017 CBI registered an FIR against INX media group alleging irregularities in the FIPB Clarence for receiving 305crores in 2007 when Mr P. Chidambaram was finance minister under UPA I.

INX media was allowed to receive a fund of Rs 4.42 crores only, however, according to CBI the company brought much larger amount of Rs 305 crores instead. Following which FIPB sought explanation from the company after direction from Income Tax Department.

The company then hired Kirti Chidambaram to resolve the matter. In Feb 2018 Kirti Chidambaram was arrested, however, granted bail later. CBI alleged that he used his influence to influence officials of finance ministry and FIPB to cover up the transaction.