Supreme Court to hear Chidambaram's bail plea

New Delhi, The Supreme Court on Monday agreed to hear former finance minister P. Chidambaram's bail plea in the INX Media money laundering case.

A bench headed by Chief Justice S.A. Bobde said that the court will hear the plea either on Tuesday or Wednesday.

Chidambaram's counsel Kapil Sibal moved his bail plea and sought an urgent hearing in the Supreme Court, challenging the Delhi High Court order denying him bail.

The Delhi High Court on Friday rejected the bail application of the Congress leader in the Enforcement Directorate's case relating to the INX-Media.

A single-judge bench of the High Court, presided by Justice Suresh Kumar Kait, turning down the plea for relief observed that the allegations against the veteran politician are "serious" in nature and that the case is not fit for granting him bail.

The Enforcement Directorate, which is probing the money laundering case, had arrested Chidambaram last month. He is currently under judicial custody in Tihar Jail.

While opposing the bail plea, the agency asserted that Chidambaram used the high office of the country "for his personal gains".

The INX media case pertains to alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance to the media group for receiving overseas funds in 2007 when Chidambaram was the Union Finance Minister.