It will be a big day for former finance Minister and senior Congress leader P Chidambaram as he awaits the Supreme Court verdict on his plea seeking bail in the INX Media money laundering case. Chidambaram has been in Tihar jail for 100 days and his detention has been raised by Congress party in parliament.
A bench headed by Justice R Banumathi had on November 28 reserved judgement on the appeal filed by Chidambaram who has challenged the November 15 verdict of the Delhi High Court denying him bail in the case.
During the arguments, the Enforcement Directorate (ED) had claimed in the apex court that the 74-year-old former finance minister continues to wield “substantial influence” on crucial witnesses in the case even from the custody, while he said that the agency cannot “destroy” his career and reputation by making baseless allegations.
Opposing his bail plea, Solicitor General Tushar Mehta, appearing for the ED, maintained that economic offences like money laundering are grave in nature as they not only affect the nation’s economy but also shake people’s faith in the system, especially when it is committed by people in power.
Senior advocates Kapil Sibal and A M Singhvi, representing the former union finance minister, had countered Mehta’s submissions and said there was neither any evidence linking Chidambaram directly or indirectly with the alleged offence nor there was any material to show that he had influenced witnesses or tampered with any evidence.