Former Finance minister  and Congress leader P Chidambaram on Wednesday moved the Delhi High Court seeking bail in the INX Media money laundering case being probed by the Enforcement Directorate.

The Supreme Court had on Tuesday granted bail to Chidambaram in the INX Media corruption case being probed by the Central Bureau of Investigation (CBI), but he could not walk free as he continues to remain in ED custody till October 24.

Th top court said that the former minister can be released provided he is not arrested in any other case and on the personal bond of Rs 1 lakh.
Chidambaram has to make himself available for interrogation.

The apex court bench on Tuesday refused to accept Central Bureau of Investigation’s (CBI) contention that ”flight risk” of economic offenders be viewed as a “national phenomenon” because several such persons including industrialist Vijay Mallya have fled the country.

In its 27-page judgement SC granted bail to P Chidambaram, the top court said he is neither a “flight risk” nor is there a possibility of “his abscondence from the trial.”

The 74-year-old Congress leader had been in Tihar jail since September 5. After more than a month, Chidambaram left Tihar jail when he was formally arrested by the ED on October 16.

His arrest came after a team of three ED officials interrogated him inside the Tihar jail.

A Delhi court had earlier allowed the Enforcement Directorate to arrest the former finance minister in connection with the money laundering case. The probe agency had approached the court seeking production warrant against Chidambaram in the INX media case.

Chidambaram is under probe by the Central Bureau of Investigation (CBI) and ED over alleged irregularities in the FIPB clearance granted to INX Media for receiving overseas funds of Rs 305 crore in 2007 during his tenure as Union Finance Minister.

The ED suspects the Congress leader and his son Karti of owning several immovable properties and over 16 bank accounts in other countries, which they are trying to identify to trace the money trail.

P Chidambaram and his son Karti were named by Peter and Indrani Mukerjea, who owned INX Media at the time and are currently in jail in connection with the murder of Indrani Mukerjea’s daughter Sheena Bora.