Delhi HC denies bail to Chidambaram in INX Media money laundering case

Delhi HC denies bail to Chidambaram in INX Media money laundering case

The Delhi High Court Friday denied bail to former finance minister P Chidambaram in the INX Media money laundering case.

Justice Suresh Kait had reserved the order on November 8 on the bail petition after hearing the arguments of counsel for Chidambaram and the Enforcement Directorate (ED).

The ED had arrested him in the money laundering case on October 16.

He was arrested by the CBI on August 21 in the INX Media corruption case and was granted bail by the Supreme Court in the CBI case on October 22.

The case was registered by the CBI 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 finance minister.

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