SC grants bail to P Chidambaram in INX media case

NEW DELHI: In a big relief to the former finance minister and senior Congress leader P Chidambaram, the Supreme Court on Tuesday granted bail to him in the INX Media case registered by the CBI. The Supreme Court on October 18 had reserved verdict on Chidambaram's plea against the Delhi High Court order denying him bail in the case.

A Delhi court on Monday also took cognisance of a charge sheet filed by the CBI in the INX Media case against Chidambaram and 13 others. They have been accused of various offences, including those under the Prevention of Corruption Act.

The probe agency has claimed in the final report that Chidambaram "misused his official position", in conspiracy with his son Karti and others, in approving an FDI proposal of INX Media and INX News Pvt Ltd in lieu of "illegal gratification" in India and through offshore payments.

Chidambaram, 74, was arrested by the CBI on August 21 and is lodged in Tihar jail under judicial custody in the corruption case. 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 Enforcement Directorate (ED) lodged a money-laundering case in this regard in 2017.