INX Media case: Delhi court grants bail to Karti Chidambram's CA S Bhaskararaman

S Bhaskararaman was in jail in a case filed by the Enforcement Directorate (ED) and had moved the court for anticipatory bail in the corruption case.

NEW DELHI: A Delhi Court on Tuesday granted bail to Karti Chidambram's Chartered Accountant S Bhaskararaman in alleged INX Media bribery case. Bhaskararaman was in jail in a case filed by the Enforcement Directorate (ED) and had moved the court for anticipatory bail in the corruption case.

On Monday, Delhi's Patiala House Court extended Karti's judicial custody till March 24 in the corruption case, while dismissing his plea for early hearing of his bail application. Shortly after the development, junior Chidambaram moved Delhi High Court seeking bail.

Special judge Sunil Rana had pronounced the order after the CBI said that he was not required for custodial interrogation.

On his plea seeking separate cell and protection in Tihar Jail, the court said the jail manual would be followed.

Karti was produced before special judge on expiry of his three-day police custody. He has already spent 12 days in police custody since his arrest on February 28 from Chennai airport.

He was arrested on his return from the United Kingdom in connection with the FIR lodged on May 15 last year. It alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving overseas funds of about Rs 305 crore in 2007 when his father was Union finance minister.

The CBI had initially alleged that Karti Chidambaram received Rs 10 lakh as bribe for facilitating Foreign Investment Promotion Board (FIPB) clearance to INX Media. It, however, later revised the figure to USD 1 million (about Rs 6.50 crore at the current exchange rate and Rs 4.50 crore in 2007).

The fresh evidence in the case, which triggered Karti Chidambaram's arrest, was based on the statement of Indrani Mukerjea, former co-director of INX Media (P) Ltd, who recorded it under section 164 of the CrPC before a magistrate on February 17.