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Home News Reports Former Finance Minister P Chidambaram may face arrest, Delhi HC rejects his anticipatory bail...

Former Finance Minister P Chidambaram may face arrest, Delhi HC rejects his anticipatory bail pleas

Chidambaram denied bail, may face arrest.

The Delhi High Court today rejected both the anticipatory bail pleas filed by the UPA era finance minister P Chidambaram. Fearing arrest in a case related to INX Media scandal that involved charges of corruption and money laundering, the senior Congress leader had filed a petition seeking anticipatory bail.

A case was registered in this regard in 2017 against alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance to INX media for receiving overseas funds of Rs. 305 crores in 2007, when Chidambaram was Finance Minister. The CBI and ED had both opposed the bail plea.

Both Chidambaram and his son Karti Chidambaram are accused in the INX Media scam which involves charges of bribery and lobbying in granting foreign investments worth over Rs 300 crores to INX Media. INX Media was later known as NewsX, it was owned by Peter and Indrani Mukherjee of the sensational Sheena Bora murder case. ED had initiated a probe on the basis of the Central Bureau of Investigation’s FIR. Chidambaram is accused of misusing his power as the finance minister to grant INX Media an FIPB clearance.

Meanwhile, the CBI and other agencies are also probing a similar case involving Chidambaram and his son, the Aircel-Maxis scam. The CBI is probing alleged irregularities in grant of FIPB approval in Aircel-Maxis deal, while the ED is probing alleged money-laundering related to the deal.

Yesterday, the ED had summoned P Chidambaram in an alleged aviation scam during the UPA era when lucrative slots and routes were given to foreign airlines, thereby incurring massive losses to Indian carrier Air India.

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