New Delhi: Mr Chidambaram was brought to the special court hours after he withdrew his petition challenging the non-bailable warrant issued against him, after which he was sent to CBI custody.
He was produced before the special judge, who had on Tuesday sent him to CBI custody till Thursday, after taking note of the Supreme Court’s order which said Mr Chidambaram will be in the CBI custody till September 5. Earlier in the day, the Supreme Court decided on his appeal against the Delhi HC’s August 20 order in the ED case, rejecting his challenge to the denial of anticipatory bail.
Rejecting the anticipatory bail plea, a bench of Justices R. Banumathi and A.S. Bopanna said the power to grant anticipatory bail was an “extraordinary power” that had to be used “sparingly”, and in “exceptional cases”, more so in economic offences as they affect the “economic fabric of society”.
The court said a case of money-laundering involves various stages of “placement” and “layering” — funds moved to several shell companies/institutions to conceal their origin and it requires a systematic investigation. It said economic offences were a different class, and grant of anticipatory bail, particularly in such offences, would “definitely hamper an effective investigation”.
In its order, the Supreme Court said, “Anticipatory bail is not to be granted as a matter of rule, and to be granted only when the court is convinced that exceptional circumstances exist to resort to that remedy.”
Speaking for the bench, Justice Banumathi said, “The judicial discretion conferred upon the court has to be properly exercised after application of mind as to the nature and gravity of the accusation; the possibility of applicant fleeing justice and other factors to decide whether it is a fit case for the grant of anticipatory bail.
