Protection extended to Chidambaram, son

Senior advocates Kapil Sibal and Abhishek Manu Singhvi, appearing for Chidambarams, demanded that either the court hear their bail plea or adjourn the proceeding sine die.

A Delhi court on Thursday extended till August 1 the interim bail granted to former Union finance minister P Chidambaram and his son, Karti, in the case pertaining to alleged irregularities in the grant of Foreign Investment Promotion Board (FIPB) approval in the Aircel-Maxis deal.

The central probe agency further informed the court that they have taken up the matter with Singapore authorities and are still awaiting the details from them regarding the source of deposits and reasons for withdrawal from these bank accounts.(HT Photo)

The court adjourned the arguments on anticipatory bail application moved by the Chidambarams after the Enforcement Directorate sought three weeks’ time. The case is being probed by Central Bureau of Investigation and the ED.

Senior advocates Kapil Sibal and Abhishek Manu Singhvi, appearing for Chidambarams, demanded that either the court hear their bail plea or adjourn the proceeding sine die.

The ED had sought adjournment of bail arguments from the court alleging that they have come across the fact that “Advantage Strategic Consulting Pte Ltd, Singapore” is “beneficially owned” by Chidambaram and his son and it “received funds from a company figured in Panama papers and registered in British Virgin Island.” Solicitor General Tushar Mehta and special public prosecutor for the ED, Sonia Mathur, submitted before the court that both Karti and P Chidambaram did not divulge “the foreign account of Advantage Strategic Consulting Pte Ltd., Singapore in spite of the fact that both of them are holding the same company either directly or indirectly. It was the investigating agency who found out the bank account. There are in all eight foreign bank accounts which are not divulged to the investigating agencies.”

The central probe agency further informed the court that they have taken up the matter with Singapore authorities and are still awaiting the details from them regarding the source of deposits and reasons for withdrawal from these bank accounts. It further submitted that the ED has sent a team of officers led by its special director to get these details.

Mehta sought three weeks and demanded adjournment of arguments on anticipatory bail application moved by the Chidambarams. The two were named in the charge sheet filed by the CBI in the case on July 19 last year.