HC grants Karti Chidambaram bail on INX Media money laundering case

Delhi High Court on Friday granted bail to Karti Chidambaram arrested in the INX media money laundering case.

Directorate of Enforcement had registered a money laundering case against Karti in May 2017 for his role in facilitating clearance from the Foreign Investment Promotion Board for INX Media Ltd. and its directors Peter and Indrani Mukherjee.

The Mukerjeas and others are also facing trial in the murder of Sheena Bora.
Justice SP Garg ordered Karti to furnish a surety bond of Rs ten lakhs and not to go abroad without the permission of the court.

Central Bureau of Investigation had arrested Karti Chidambaram on February 28 at Chennai airport on his return from London for lack of cooperation with the probe.

CBI had registered a case in the month of May, 2017, for alleged irregularities in FIPB clearance to INX Media, criminal conspiracy and cheating, among other offences. It further submitted that INX Media received overseas funds to the tune of Rs 305 crore in 2007 when Karti’s father P Chidambaram was the Union Finance Minister.

Counsel for Karti submitted that there was no threat that Chidambaram jr would tamper with evidence. He further contended that the CBI Special Court had erred in refusing to consider Karti’s bail plea.

He submitted that Karti was ready to furnish the sound surety before the court and abide with all the conditions of bail. He argued that Karti had always cooperated with the CBI probe and also complied with two summons issued in August last year.

CBI submitted that the investigating agency had unearthed strong incriminating material against Chidambaram jr. He opposed the bail plea submitting that at this stage release of Karti would risk the evidence in the matter.


Savio Rodrigues

Savio Rodrigues Founder & Editor-in-Chief

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