Former union minister P Chidambram’s petition, filed in connection with the INX media case, is being heard by the Supreme Court.
Senior Congress leader’s lawyer on Tuesday alleged that the Enforcement Directorate had produced documents randomly and such papers could not be used as evidence in the court.
After the hearing on Tuesday, the top court had extended Chidambaram’s protection from arrest by ED till today.
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3:23 am IST
Money laundering continued after amendment of PMLA Act too: ED
Responding to P Chidambaram’s argument that alleged transaction took place before it was an offence i.e. prior to amendment of PMLA Act in 2009, Solicitor General Tushar Mehta, representing ED in the INX media case, said that the senior Congress leader’s argument will be countered by showing that laundering of transaction money continued after that as well, reported by news agency.
3:10 pm IST
What ED accuses Chidambaram of
The Enforcement Directorate has accused Chidambaram and his aides of creating “layers of money laundering web in a manner which is sufficient to make it difficult for law enforcement agencies to track the money trail of proceeds of crime.”
The case is related to alleged irregularities in Foreign Investment Promotion Board (FIPB) clearance given to the INX Media group for foreign investment to the tune of Rs 305 crore in 2007 when the UPA was in power and P Chidambaram was the finance minister.
3:00 pm IST
Probing agencies didn’t have questions for Chidambaram: Singhvi
Former finance minister P Chidambaram’s legal team had on Tuesday told the apex court that the probing agencies didn’t have any questions for the senior Congress leader, instead their prime objective of wanting his custody was to “humiliate, humiliate, and humiliate” him.
“Only point of custody here is humiliation, humiliation. All letters of humiliation in capitals,” Singhvi told a bench of justices R Banumathi and AS Bopanna on Tuesday.
2:51 pm IST
P Chidambaram rejected ED charges
Senior Congress leader P Chidambaram had on Tuesday filed an affidavit before the Supreme Court to deny allegations by the ED that he possessed properties abroad or had bank accounts bought with the money allegedly laundered the INX-Media case.
“The petitioner submits on oath before this Hon’ble Court and even at risk of facing perjury, if found to be not stating the complete truth, that he has no account or any property abroad much less 17 accounts and 10 properties, as alleged by the Respondent ED”, the Congress leader said in the rejoinder affidavit. “Each and every asset owned by him has been disclosed in statutory filings and he has no asset other than the assets disclosed therein,” read the document.
2:45 pm IST
Chidambaram was laundering money even on day complaint was filed: ED
Solicitor General Tushar Mehta told the Supreme Court that on the day of registration of complaint against Chidambaram, money laundering was going by him.
2:38 pm IST
Accused can’t have access to material collected by ED: Mehta
Solicitor General Tushar Mehta, representing ED in the INX media case, said argued that one can be arrested on basis of statutory material in his possession.
“The threshold for arrest under PMLA is higher then under IPC. The moment chargesheet is filed, we will supply the material to the accused. But here the accused wants to have access to material collected by ED, it cant happen,” he said.
2:25 pm IST
Solicitor General explains why SC must read documents in ‘sealed cover’
Former finance minister P Chidambaram’s lawyer Kapil Sibal had earlier said the Supreme Court must not read affidavit submitted by ED in a sealed cover. As a response to this, Solicitor General Tushar Mehta explained why the court must take a look at the submitted documents. He said “every PMLA case has two aspects, one is the main crime, which would be investigated by some other agency (CBI) and proceeds of crime or laundering part, which is investigated by the ED.
2:10 pm IST
Solicitor General Tushar Mehta begins argument
Beginning his argument, Solicitor General Tushar Mehta said “we are concerned about the laundering aspect, and here we deal with very intelligent people, foolish people can’t launder.
He said that the offence, which Chidamabaram is accused of committing, is never committed in the heat of the moment and is rather very well thought out crime and this makes collection of evidence difficult
“Most of laundering offences are digital offences. Once the chargesheet is filed, the evidence disappears in minutes and its a notable aspect of money laundering,” he added.
Chidambaram INX Media Case Live Updates- ‘Foolish people can’t do money laundering’: Solicitor General… – Hindustan Times