HC rejects Chidambaram's bail plea in INX media case; says "classic case of money laundering"

Congress leader P Chidambaram was in deep legal trouble and faced possible arrest after the Delhi High Court on Tuesday refused to grant him anticipatory bail, saying he seems to be the "kingpin" and "key conspirator" in the INX media case of money laundering and he needs to be interrogated in custody for the investigation to be effective.

Holding that the INX media scam was a "classic case of money laundering", the court also said the twin facts which have weighed to deny pre-arrest bail to Chidambaram are "gravity" of the offence and "evasive" replies given by him to questions put to him while he was under protective cover extended to him by the court.

A former union home and finance minister, Chidambaram, 73, also failed to get any immediate relief from the Supreme Court which was approached shortly after the high court cancelled the interim protection from arrest, paving the way for the investigating agencies -- Central Bureau of Investigation(CBI) and Enforcement Directorate(ED) -- to apprehend him.

"Granting bail in cases like the instant one will send a wrong message to the society," said Justice Sunil Gaur, who is due to retire on Thursday. The case also involved allegations of corruption.

Chidambaram got a reprieve from arrest after the high court granted interim protection on July 25, 2018 which was extended from time to time.

Holding that Chidambaram's custodial interrogation was required for an effective investigation, the court said "simply because he is a Member of Parliament would not justify grant of pre-arrest bail to him." Chidambaram is a Rajya Sabha MP.

Justice Gaur said the court cannot permit the prosecution in this "sensitive case to end up in smoke like it has happened in some other high profile cases."
In its judgment, the high court said "it cannot be forgotten that the petitioner (Chidambaram) was the Finance Minister at the relevant time and he had given FDI clearances to INX Media Group for receiving overseas funds to the tune of Rs 305 crore."