india

Updated: Oct 23, 2019 00:45 IST

Former Union Minister P Chidambaram was granted bail by the Supreme Court on Tuesday in the INX media case filed against him by the Central Bureau of Investigation (CBI), although he will continue to be in jail till at least October 24, this time in the custody of the Enforcement Directorate which is investigating money laundering aspects of the same case.

The Supreme Court’s order, granting bail to Chidambaram, comes 61 days after the former finance minister was arrested by the CBI, concludes that he is not a flight risk, and directs him to deposit his passport with the Special CBI court and also furnish a bail bond of ₹1 lakh and two sureties for the same sum.

The Supreme Court bench brushed aside the CBI’s arguments that it was necessary to keep Chidambaram, a former Union home minister too, in jail because he could influence the 25 witnesses in this case. The judge ruled that this was a last-minute argument put forward by the CBI. “Statement of the prosecution that the appellant has influenced the witnesses and there is likelihood of his further influencing the 25 witnesses cannot be the ground to deny bail to the appellant particularly, when there is no such whisper in the six remand applications filed by the prosecution, “ said the top court’s order.

Chidambaram’s lawyer Kapil Sibal said, “While he has been given bail in the CBI case, he continues to be under police remand in the Enforcement Directorate case. When the appropriate time comes, we will seek bail in the ED case, too.”

The case against Chidambaram relates to alleged irregularities in the Foreign Investment Promotion Board (FIPB) allowing INX Media to receive foreign direct investment in excess of the approved amount.

The Delhi High court refused to grant bail to Chidambaram in the case registered by the CBI for cheating, conspiracy and provisions of the Prevention of Corruption Act, 1988.

On September 30, it did so on the grounds that the investigation was in an advanced stage and the possibility of the appellant influencing the witnesses could not be ruled out.

The Supreme Court in its order has criticised Delhi high court for having gone into the merits of the case at the bail stage, and said what the court has recorded in its judgment will only be considered an opinion and have no bearing on the trial court.

Karti Chidambaram reacted to news of the top court granting his father bail in the CBI case in the INX media case tweeting in Latin a variation of the maxim, “Veritas valebit, etsi lente” that roughly translates as: truth will prevail, even if slowly.

Karti Chidambaram is also an accused in the case against his father relating to alleged irregularities in the FIPB clearance given to the INX Media group, as are several finance ministry officials at the time. The case dates back to May 2017.