Central Bureau of Investigation has filed a reply to the bail application filed by P Chidambaram, before the Delhi High Court in the INX Media case.
In the application, CBI has submitted that since the accused has allegedly misused a public office to commit embezzlement of grave magnitude, and that too with brazen impunity, granting bail would go against the cause of 'Zero Tolerance Towards Corruption'.
The agency has also highlighted that there's cogent evidence on record against the accused which will be presented during the hearing in the sealed cover.
The reply also counters the argument given by Chidambaram's counsel Kapil Sibal in the last hearing where he said that since the charge against the accused is punishable with imprisonment upto 7 years, it is not a serious offence as per the law laid down in Arnesh Kumar case.
It is averred in the reply that the gravity of the offence has nothing to do with the punishment provided. It has to be judged by the impact it has on the social, economic, financial stability and integrity of the country. Moreover, the facts on the present matter constitute the gravest case of economic offences.
Further, it is also mentioned in the reply that the investigation has disclosed that against the FILB sanctioned amount of 4.62 crores in FDI, INX Media Ltd. has received a foreign investment of Rs. 305 crores till 2010, and a total FDI of Rs. 731 crores.
CBI has also accused P Chidambaram of entering into a criminal conspiracy with his son Karti Chidambaram for illegal gratification when he was working as the Finance Minister.
The investigation agency has also submitted that the accused has been evasive and non cooperative during interrogation, poses a flight risk and can tamper with evidence and manipulate the witnesses, if released on bail.
The hearing on P Chidambaram's bail application before the Delhi High Court will take place on September 23.
Click here to download the Affidavit