Senior advocates Kapil Sibal and A M Singhvi represented the former union finance minister in the Supreme Court.
The Supreme Court granted bail to senior Congress leader P Chidambaram on Wednesday on a personal bond of Rs 2 lakh with two sureties of same amount. The apex court has said that Chidambaram will not leave the country without prior permission of the court.
In its verdict, the court said that P Chidambaram should not temper with the evidence and not influence the witnesses. The court has restrained Chidambaram from issuing public statements or give press interviews in connection with the INX Media case. The court also said that its order granting bail to Chidambaram will not have bearing on any other accused in the case.
A three-judge bench of the apex court comprising Justices R Banumathi, AS Bopanna and Hrishikesh Roy pronounced its verdict hearing the plea by Chidambaram seeking bail in the INX Media money laundering case. Justice AS Bopanna said that economic offences will fall in the category of grave offences.
The apex court’s verdict came after Delhi High Court refused him bail citing gravity of the offence.
The Congress party welcomed the Supreme Court’s decision, saying, “Truth finally prevails”. Senior Congress leader Shashi Tharoor, however, said “justice delayed is justice denied”, adding, “this should have been granted much earlier”.
In a first reaction to the verdict, P Chidambaram’s son, Karti Chidambaram posted on Twitter: “Phew. At last after 106 days :)”.
Phew. At last after 106 days 🙂
— Karti P Chidambaram (@KartiPC) December 4, 2019
The former Finance Minister has been in custody for 105 days since August 21 in Delhi’s Tihar Jail when he was first arrested by the CBI in connection with the INX Media corruption case. He was granted bail by the top court on October 22. The Enforcement Directorate (ED) had arrested him on October 16 in the money-laundering case.
The CBI registered a case against the 74-year-old leader in May 2017, alleging irregularities in a 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.
Earlier, the Supreme Court had reserved judgement on Chidambaram’s appeal challenging the November 15 verdict of the Delhi High Court denying him bail in the case. The ED had argued in the apex court that the 74-year-old former FM continues to wield “substantial influence” on crucial witnesses in the case even from the custody. On the other hand, Chidambaram had said that the agency was trying to “destroy” his career and reputation by making baseless allegations.
Senior advocates Kapil Sibal and A M Singhvi represented the former union finance minister in Supreme Court.