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Delhi High Court in the past adjudicated upon the matter relating to the bail application moved by former Finance Minister, P. Chidambaram, and observed that the need to amend the law regarding pre arrest must be made more stringent for such high profile offenders. The court said that it is necessary to restrict the provisions of Anticipatory bail and make it inapplicable to economic offenders of high profile cases. The matter was presented before the Court in pursuance of the allegation of the Former Finance minister's involvment in the INX Media Scam.
The former finance minister, who is currently a member of the Rajya Sabha, has been accused to be the mastermind behind the IMX Media Scam. He alleged to have granted clearances to the media group during his tenure as the finance minister in 2007, for receiving overseas funds of Rs. 305 crore in spite of several irregularities speculated to have been included in the Foreign Investment Promotion Board clearance. Further this son was accused to have been in control of the aforementioned media group .
The Delhi High Court, on consideration of the above, dismissed the application for bail while terming the nature of the case to be that of money laundering.
However the Senior Advocate P Chidambaram has filed a petition against the order of High Court. The Apex Court is set to take up the matter on the 23rd of August.
Notably, Chidambaram is apprehending arrest by CBI and Enforcement Directorate for offences under Prevention of Corruption Act and Prevention of Money Laundering Act in respect of INX Media investments.
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