Solicitor General Tushar Mehta, appearing for the Enforcement Directorate (ED), told a bench headed by Justice R Banumathi that economic offences are grave in nature as they not only affect the nation's economy but also shake people's faith in the system.
Chidambaram is being probed by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) in connection with granting of the Foreign Investment Promotion Board (FIPB) clearance to INX Media while he was the Finance Minister.
Senior advocates Kapil Sibal and Abhishek Manu Singhvi, appearing for Chidambaram, told the top court he should be granted bail as he is in custody for over three months.
A bench headed by Chief Justice S A Bobde, who was administered the oath of office by President Ram Nath Kovind earlier in the day, was told by senior advocate Kapil Sibal that Chidambaram was in jail for around 90 days and his bail plea be heard either on Tuesday or Wednesday.
The Delhi High Court Friday denied bail to former finance minister P Chidambaram in the INX Media money laundering case filed by the ED, saying prima facie allegations against him are serious in nature and he played active and key role in the offence.
Chidambaram was produced before Special CBI Judge Ajay Kumar Kuhar via video conferencing at the end of his judicial custody.
INX Media Case: Rouse Avenue Court extends the judicial custody of Congress leader P Chidambram till 27 November
The former finance minister, who is in jail for alleged corruption in the INX Media case, also said in a tweet that the magazine is read by the Fortune 500 companies that will invest in India
The ED, in its affidavit filed in response to 74-year-old Chidambaram's bail petition, said the contention of the senior Congress leader that no offence is made out against him is "untenable in law" and his plea is liable to be rejected
The Delhi High Court was informed Friday that former finance minister P Chidambaram, lodged in Tihar jail in the INX Media money laundering case, is fine and does not require hospitalisation.
INX media case: Congress leader P. Chidambaram sent to judicial custody till 13th November. Court has also rejected Enforcement Directorate's (ED) application, seeking Chidambaram's remand for one more day
A Delhi court on Wednesday sent former finance minister P Chidambaram to judicial custody till November 13 in the INX Media money laundering case. Special judge Ajay Kumar Kuhar dismissed the plea of the Enforcement Directorate for one day custodial interrogation of Chidambaram. The court directed Tihar authorities to provide Chidambaram with medicines, western toilet, security and separate cell.
The CBI had on Friday filed a review petition in the apex court challenging the three-judge high court bench order that granted bail to Chidambaram in INX Media case.
The top court had granted bail to Chidambaram in the case lodged by the CBI saying he is neither a "flight risk" nor is there a possibility of "his abscondence from the trial".
The court fixed the matter for further hearing on November 4.
Chidambaram, who was on Tuesday granted bail from Supreme Court in the INX media corruption case, continues to be in ED custody since October 17.
Top News
Latest News
