P Chidambaram gets bail from Supreme Court in INX Media case

The Supreme
Court on Wednesday granted former Union finance minister P Chidambaram bail in
the INX Media case lodged by the Enforcement Directorate (ED).

The case was
heard by a bench of justices R Banumathi, AS Bopanna and Hrishikesh Roy.
Chidambaram has been in custody for 105 days since his arrest.

The CBI was
investigating Chidambaram in a case relating to alleged irregularities in
Foreign Investment Promotion Board (FIPB) clearance granted to the INX Media
group for receiving overseas funds of Rs. 305 crore in 2007, during his tenure
as the finance minister.

He was
granted bail by the top court’s bench of three judges on October 22. But by
that time, the Enforcement Directorate had arrested him in the money laundering
case.