PC gets bail from SC, can’t walk free

Tribune News Service

New Delhi, October 22

The Supreme Court today granted bail to senior Congress leader and former Finance Minister P Chidambaram in INX Media corruption case relating to alleged irregularities in FIPB approval.

A three-judge Bench headed by Justice R Banumathi directed him to furnish a personal bond of Rs 1 lakh and two sureties in the like amount; asked him to be available for interrogation and not to leave India without the trial court’s permission.

However, Chidambaram can’t walk free as he is currently under Enforcement Directorate’s custody in a money laundering case relating to the scam.

“The appellant (Chidambaram) is not a ‘flight risk’ and in view of the conditions imposed, there is no possibility of his abscondence from the trial,” the Bench said, allowing his petition challenging the September 30 order of the Delhi High Court, which had rejected his bail plea.

The top court clarified the findings of the Delhi HC will not have any bearing on the proceedings in the case. The grant of bail plea comes four days after the CBI filed a chargesheet before a Delhi court, accusing him, son Karti and others of causing loss to the exchequer by their alleged acts of corruption.

Chidambaram, 74, was arrested by the CBI on August 21 in the INX Media corruption case and is currently under ED custody in a related money laundering case.

The CBI had registered an FIR on May 15, 2017, alleging irregularities in a Foreign Investment Promotion Board clearance given to the INX Media group for receiving overseas funds of Rs 305 crore in 2007, during Chidambaram’s tenure as the Finance Minister. Later, ED lodged a separate money-laundering case in 2017.

Not a ‘flight risk’

The appellant (PC) is not a ‘flight risk’ and in view of the conditions imposed, there is no possibility of his abscondence from the trial. — An SC Bench