Delhi High Court rejected Chidambaram’s bail appeal in INX media case

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Delhi High Court rejected Chidambaram's bail appeal in INX media case
Delhi High Court rejected Chidambaram's bail appeal in INX media case

The INX Media case is an ongoing 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. P. Chidambaram was union finance minister at the time. His son Karti Chidambaram has been implicated by the investigating agencies.

Delhi High Court rejected the regular bail petition of Former Finance Minister P. Chidambaram in connection with the INX media case. He is currently imprisoned in Tihar jail under CBI judicial custody.

INX Media, founded by media entrepreneurs Indrani Mukherjee along with husband Peter Mukherjee, allegedly violated foreign investment laws. INX Media had permission to source foreign investments to the tune of ₹4.62 crores. but it has allegedly received funds worth ₹305 crores. Delhi High Court rejected bail appeal because, P.Chidambaram was then the finance minister who instructed the FIPB officials to clear INX Media deal.and Financial frauds have serious impact on the economic condition of the country.

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