The Delhi High Court rejected P Chidambaram’s bail plea in the INX Media Scam yet again, stating that economic offences are a class apart. The court raised concerns that the former Union Minister might influence the investigation given his power.
Crux of the Matter
Former Union Minister and Congress Leader has been jailed for his alleged role in the Rs 305 crore INX Media scam since August 21 2019.
The prosecution cited Chidambaram as a potential flight risk to oppose his latest bail plea.
The bench concurred with the prosecution’s concern that the former minister, who wields a lot of power, may influence investigation by tampering witnesses and denied the bail plea on those grounds.
The bench also noted that if economic offenders who callously ruin the economy are not punished then it “affects the very fabric of democratic governance and probity in public life.”
Curiopedia
The INX Media case refers to an ongoing high-profile money laundering investigation in India. It involves allegation of irregularities in foreign exchange clearances given to INX Media group for receiving overseas investment in 2007 by P. Chidambaram who was union finance minister at the time. His son Karti Chidambaram has also been implicated by the investigating agencies. INX Media, founded by media entrepreneurs Indrani Mukerjea along with husband Peter Mukerjea, allegedly violated foreign investment laws. INX Media had permission to source foreign investments to the tune of ₹4.62 crore but it has allegedly received funds worth ₹305 crore. More Info
Curated Coverage
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