The Delhi High Court on Friday granted bail to Karti Chidambaram, son of senior Congress leader P Chidamabaram, in the INX Media corruption case.
His 12-day judicial custody was to expire on March 24.
Mr. Karti was arrested on February 28 at the Chennai airport by the CBI on his return from the United Kingdom.
Justice S P Garg directed him to furnish a surety of Rs 10 lakh and imposed additional conditions, including prior permission from the CBI if he wants to leave the country.
His passport is already deposited with the authorities, his lawyers had told the court.
The court said that while out on bail, Mr. Karti would not tamper with any evidence in the case.
The CBI opposed his bail plea on the grounds that he has “already destroyed evidence” in the case and was an “influential” person.
Mr. Karti’s counsel had argued that no case under the Prevention of Corruption Act was made out against him as the CBI had neither questioned any public servant nor made them an accused in the matter.
Mr. Karti’s lawyers had denied allegations of tampering with evidence and asked when the CBI had not sought his further custodial interrogation, why should he be kept in judicial custody.
He was arrested in connection with an FIR lodged on May 15 last on the allegation of irregularities in a Foreign Investment Promotion Board (FIPB) clearance given to INX Media for receiving funds of about Rs. 305 crore from overseas in 2007 when his father was the Union Finance Minister.
The CBI initially alleged that Mr. Karti received Rs 10 lakh as a bribe for facilitating the FIPB clearance to INX Media. It had later revised the figure to $ 1 million (about Rs 6.50 crore at the current exchange rate and Rs 4.5 crore in 2007).
The fresh deveopment in the case, which triggered his arrest, was based on a statement of Indrani Mukherjea, former director of INX Media (P) Ltd, recorded it under Section 164 of the CrPC before a magistrate on February 17. Indrani is currently lodged in a Mumbai prison in connection with the case of murder of her daughter Sheena Bora.
Directive to ED
In the separate money laundering case arising out of the corruption matter, the High Court, on March 9, directed the Enforcement Directorate not to arrest or take any coercive action against Mr. Karti.
The protection was later extended by the High Court till March 22.
The Supreme Court subsequently transferred the ED case to itself.
