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Delhi High Court rejects P Chidambaram’s anticipatory bail plea in INX media case

Chidambaram and his son Karti Chidambaram are being probed by ED and CBI for giving FIPB clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007.

Delhi High Court rejects P Chidambaram’s anticipatory bail plea in INX media case

New Delhi: The Delhi High Court on Tuesday dismissed anticipatory bail plea of Former Union Finance Minister P Chidambaram in connection with INX Media case.

Chidambaram and his son Karti Chidambaram are being probed by Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) in the INX Media case.

On May 15, 2017, the CBI had registered an FIR in the case alleging irregularities in the Foreign Investment Promotion Board (FIPB) clearance granted to the INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007, during Chidambaram`s tenure as the finance minister. Karti Chidambaram has also been probed by the CBI for allegedly taking money to facilitate the FIPB clearance to INX Media in 2007.

The ED had registered a PMLA (Prevention of Money Laundering Act) case based on FIR by the CBI and alleged that irregularities took place in the FIPB clearance to INX Media.

CBI had registered an Enforcement Case Information Report (ECIR), the ED's equivalent of a police FIR, against the accused named in a CBI complaint, including Karti Chidambaram, INX Media and its directors Peter and Indrani Mukerjea.