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P Chidambaram seeks bail in INX Media money laundering case

ANI  |  General News 

Former Union finance minister P Chidambaram on Wednesday moved the Delhi High Court seeking bail in the INX Media money laundering case.

Chidambaram, in bail plea, stated that his arrest by the ED is "malafide and was done with the intention to harm the reputation".

The Enforcement Directorate which is probing the money laundering charges against the leader had arrested him on October 16, following which he was sent remanded to its custody by a special court till October 24.

The petition will be taken up for hearing by the court tomorrow.

The Supreme Court had yesterday granted him bail in the corruption matter being probed by the Central Bureau of Investigation (CBI) in connection with the case. Chidambaram was arrested on August 21 by the CBI in connection with the graft case after which the court initially remanded him to its custody and later sent to Tihar jail.

The agency has recently charge-sheeted him and others, including his son Karti and a handful of bureaucrats, for causing loss to the exchequer by allegedly committing offences under the Prevention of Corruption (PC) Act and the Indian Penal Code (IPC).

The CBI had registered an FIR on May 15, 2017, alleging irregularities in a Foreign Investment Promotion Board (FIPB) clearance granted to the INX Media group for receiving overseas funds of Rs 305 crore in 2007, during Chidambaram's tenure as the finance minister.

Thereafter, the ED lodged a money laundering case in this regard in 2017.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 23 2019. 12:00 IST