File photo of former Union minister P Chidambaram. (ANI)

NEW DELHI: The Enforcement Directorate told the Supreme Court on Wednesday that money laundering in the INX Media case was still going on and said the agency had collected credible evidence against former finance minister P Chidambaram .

Pressing for Chidambaram’s custodial interrogation, solicitor general Tushar Mehta told a bench of Justices R Banumathi and A S Bopanna, “This is is not a witch-hunt as alleged by them. We have credible and cogent evidence to show that it is a serious case of money laundering. There is a prima facie case against him.”

The reference to “ongoing” money laundering was brief, but suggested that funds relating to the INX Media FDI case are still being moved from one account to another.

Addressing Chidambaram’s apprehensions over being targeted for political reasons, Mehta told the bench there were sufficient statutory checks and balances under the Prevention of Money Laundering Act (PMLA) to prevent misuse of the law. He urged the bench to go through the sealed cover probe report to satisfy its “conscience” about the seriousness of the case and evidence against the former minister.

The ED, however, refused to reveal information in an affidavit pertaining to foreign assets and bank accounts allegedly belonging to Chidambaram, saying it would hamper the probe. Referring to Chidambaram’s counsel’s argument that the agency provide the details, Mehta contended this information could not be made public at this stage as evidence can be destroyed and accused would be provided details only after a chargesheet is filed in the case.

Mehta repeated his earlier assertion that people with a sharp mind indulged in money laundering, which was always pre-mediated and well-crafted and was very difficult to unravel. Seeking dismissal of Chidambaram’s anticipatory bail plea to pave the way for his custodial interrogation, Mehta said, “Answer given under protective cover is different from answer given in custody.”

Accusing Chidambaram of trying to tamper with evidence in the INX Media case with other co-conspirators by selling overseas property and closing bank accounts, the ED told the court that his custodial interrogation was needed to complete the probe.

In its affidavit, the agency said the former minister and other accused had bank accounts and properties in different countries. Its allegations were strongly refuted by Chidambaram. Claiming that he did not have any foreign asset or bank account, Chidambaram said he was ready to face prosecution under perjury if the agency gave details of even one asset or bank account owned by him.



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