In a huge setback to former Union minister P. Chidambaram, the Supreme Court on Thursday rejected his anticipatory bail plea seeking protection from arrest by the Enforcement Directorate (ED) in the INX Media money laundering case. However, the bench, comprising justices R. Banumathi and A.S. Bopanna, said Chidambaram was free to apply for regular bail.
The development comes as Chidambaram's 15-day CBI custody ends on Thursday. With the court rejecting his anticipatory bail plea, the former finance minister now faces arrest by the ED in the INX Media case.
The Supreme Court on Thursday also allowed Chidambaram to withdraw his plea against non-bailable warrant and remand orders of the trial court in the INX Media corruption case lodged by the CBI. The bench passed the order after Chidambaram's counsel said they have decided to unconditionally withdraw the petition.
Considering the facts and circumstances, the court said the case is not fit for grant of anticipatory bail. "Anticipatory bail cannot be granted as a matter of right. It is to be exercised sparingly in the cases of economic offences, which constitute a class apart," the court noted. It further reasoned that the grant of anticipatory bail at initial stages of the case may frustrate the ongoing investigation.
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The hearing in the case concluded on August 29 and the order was reserved for Thursday. The court said that the ED has produced the materials (evidences) collected by it in a sealed cover. "We have consciously refrained from perusing it," Bar and Bench cited the court as saying. "Investigating agency would be exposing the evidence by producing it before the accused first," the court added. While reserving the orders, the bench had said it would decide on the question on whether to look into the documents placed before it by the ED in a sealed cover.
Meanwhile, the court will also pronounce orders on pleas challenging the issuance of the non-bailable warrant (NBW) against Chidambaram and the subsequent remand orders for custodial interrogation issued by the trial court in the corruption case lodged by the CBI.
The senior Congress leader was arrested by the CBI on August 21 after the Delhi High Court rejected his anticipatory bail plea a day before. The court order was challenged by Chidambaram's counsel, comprising senior Congress leaders Kapil Sibal and Abhishek Manu Singhvi, in the Supreme Court.
CBI's move to arrest Chidambaram even as the matter was pending in the Supreme Court was also challenged by his counsel. The apex court witnessed hearings in the cases on back-to-back days until Tuesday, when the probe agency insisted that it did not require his further custodial interrogation and asking for him to be send to Tihar jail. However, the court extended his CBI custody till Thursday.
The CBI had lodged an FIR on May 15, 2017, alleging irregularities in FIPB clearance granted to INX Media group for receiving overseas funds of Rs 305 crore in 2007 during Chidambaram's tenure as finance minister. Thereafter, the ED lodged a money-laundering case in 2017.
