Delhi HC adjourns Chidambaram's bail plea till tomorrow

The Delhi High Court on Tuesday adjourned bail plea arguments of former Finance Minister P Chidambaram till tomorrow.

Senior advocate Abhishek Manu Singhvi, appearing for Chidambaram, argued partly today. He will continue his arguments tomorrow also.

"A 49-year member of the bar, 40 odd years as MP, holding three most important portfolios of the country, he (Chidambaram) has deep roots in the society. We are dealing with a case where he has been called only once," Singhvi said.

"If I (Chidambaram) am not a threat or menace to the society or not a habitual offender, the court can protect my interest," he added.

Chidambaram was arrested by the CBI on August 21. At present, he is in judicial custody in Tihar Jail.

He is facing a probe by the CBI and the Enforcement Directorate (ED) for alleged irregularities in the Foreign Investment Promotion Board clearance given to INX Media to the tune of Rs 305 crore in 2007 when he was the Union Finance Minister.

Sibal stated that Chidambaram is 74 years old and has 40 years of public life. "The offence is not grave."

Later, Singhvi argued for Chidambaram and said, "No flight risk, he will go and cooperate. This judicial custody is like under trial incarceration."

The Delhi HC will continue to hear the arguments in Chidambaram's regular bail in INX Media case tomorrow.