Chidambaram hearing Live Updates: SC denies anticipatory bail; ED to seek his custody

Chidambaram hearing Live Updates: SC denies anticipatory bail; ED to seek his custody

With the SC rejecting Chidambaram's bail plea, the Enforcement Directorate can now arrest the former Union minister in the INX Media case

Former finance minister P Chidambaram.

The Supreme Court on Thursday rejected Congress leader and former finance minister P Chidambaram's appeal against the Delhi High Court's order, rejecting his anticipatory bail plea in the INX Media probe case. The top court had on Tuesday extended his custody with the CBI till September 5 in the INX Media case. "Granting anticipatory bail at the initial stage may frustrate the investigation....It's not a fit case to grant anticipatory bail. Economic offences stand at different footing and it has to be dealt with different approach," the Supreme court said. The apex court added the former finance minister could move a regular bail application before the trial court. With the SC rejecting Chidambaram's bail plea, the Enforcement Directorate can now arrest the former Union minister in the INX Media case.

Catch all the latest updates on the INX Media case on BusinessToday.In Live blog.

11.45 AM: "We have decided to unconditionally withdraw the petition," says Chidambaram's counsel Abhishek Manu Singhvi. Following this, the SC has permitted Chidambaram to withdraw his plea in the INX Media corruption case.

11.41 AM: Chidambaram has withdrawn his appeal in the CBI case from the Supreme Court.

11.21 AM: The SC says the ED does not need to show probe materials at this stage. "The ED does not need to produce the transcripts of Chidambaram's questioning in the court," SC adds.

11.15 AM: With the SC rejecting Chidambaram's bail plea, the Enforcement Directorate can now arrest the former Union minister in the INX Media case.

10.05 AM: The Rouse Avenue court in Delhi will also hear the anticipatory bail pleas of the father-son duo in the Rs 3,500-crore Aircel-Maxis case today. The CBI and the ED on Monday sought their custodial interrogation but the court reserved its order on their anticipatory bail pleas for September 5. Both the INX Media and Aircel-Maxis cases relate to alleged irregularities in the granting of Foreign Investment Promotion Board (FIPB) approvals back when Chidambaram was the finance minister in the UPA regime.

10.57 AM: Move a regular bail application before the trial court, SC tells P Chidambaram's lawyers.