Chidambaram will be in Parliament tomorrow, says Karti after SC grants bail to his father

New Delhi, Dec 04: Senior Congress leader Chidambaram, who was granted bail by the Supreme Court in the INX Media money-laundering case, will be in parliament tomorrow, said Karti Chidambaram.

The Congress welcomed the Supreme Court's decision to grant bail to Chidambaram in the INX-Media money laundering case, saying truth finally prevails.

Senior Congress leader Shashi Tharoor, however, said "justice delayed is justice denied", adding, "this should have been granted much earlier".

While granting bail to Chidambaram in INX Media, the top court directed that the congress leader could not leave the country without its prior permission nor speak to the media.

Chidambaram, who has been in custody for 105 days, should neither try to influence witnesses nor tamper with evidence, the court said while setting aside the Delhi High Court November 15 verdict denying the former Union finance minister bail.

A three-judge bench, headed by Justice R Banumathi, granted the relief to the 74-year-old Congress leader on a personal bond of Rs 2 lakh with two sureties of the like amount.

The bench also restrained Chidambaram from giving any press interview or making any statements with regard to the case. The top court, which observed that economic offences are grave in nature, said "grant of bail is rule and refusal is exception".

What is INX Media Case

In the month of March 2007, the INX Media had approached the finance ministry for issuing 14.98 lakh equity shares and 31.22 lakh convertible non-cumulative redeemable preference shares. Each share was to be priced at Rs 10 a piece, owned by three non-resident investors under the FDI route.

The financial intelligence unit of the finance ministry, however, in January 2008 found that there was an anomaly in the money flow into INX Media from three firms based in Mauritius. The case was then sent to the Enforcement Directorate, which probed the fund flow.

The matter was then referred to the CBI, following which an FIR was registered and the case in May 2017 and this came to be known as the INX Media case. The ED, on the other hand, probed the money laundering aspect into this case.