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Supreme Court granted bail to Chidambaram in money laundering case

Today Supreme Court of India granted bail to former Union finance minister and Congress leader P Chidambaram in the money laundering cases pertaining to irregularities in overseas funds received by INX Media group in 2007.

A three bench judges comprising of justices R Banumathi, AS Bopanna and Hrishikesh Roy put aside 15th November order of Delhi high court to release Chidambaram on bail though it had rejected one of the main arguments made by Chidambaram.

Chidambaram’s main argument in Supreme Court against the Delhi high court judgment was that the high court declined bail despite rejecting concerns that Chidambaram is a flight risk, could tamper with evidence or influence witnesses.

The reason given by the high court for rejecting bail plea was that economic offences, as in the present case, are serious offences against the society at large and are, hence, required to be treated differently when it comes to grant of bail.