Former finance minister p. Chidambaram, who was in custody of CBI (Central Bureau of Investigation) in the case associated with alleged discrepancies in granting Foreign Investment Promotion Board (FIPB) clearances to the INX Media group, faces arrest as he was denied anticipatory bail by Supreme Court of India.
R Banumathi and A S Bopanna were among the judges that dismissed Chidambaram’s plea challenging the Delhi High Court verdict denying him anticipatory bail in the case, saying the economic offense has to be dealt differently as it affects the economy of the country.
“It is not a fit case to grant anticipatory bail”, the court gave the verdict and also adding that economic offenses involved deep-rooted conspiracies which cannot be successfully probed if the accused knew he would be protected.
Justice Banumathi spoke to the media stating that investigating agency needs to have sufficient freedom to conduct a probe into the case, and anticipatory bail was not a matter of right. Mr. Chidambaram was asked to move to the trial court for regular bail by the judge.
Chidambaram’s application for direction to the ED to produce transcripts of his questioning done by the agency on three dates was also denied by the apex court judges bench.
Special Judge Ajay Kumar Kuhar has sent Mr. Chidambaram to judicial custody till September 19. The apex court granted him permission to carry his medicines to jail and directed the personnel involved that he has to be kept in a separate cell in Tihar prison as he is a protectee under Z-security.
Solicitor General Tushar Mehta has made sure of sufficient security for Chidambaram in the jail.