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No anticipatory bail to P. Chidambaram for irregularities in FDI clearances: Apex Court

September 6, 2019[2019] 109 taxmann.com 57 (SC)
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COMPANY LAW: Where appellant's (P. Chidambaram) plea for anticipating bail was rejected by HC by impugned order due to alleged irregularities in Foreign Investment Promotion Board (FIPB) clearance given by appellant who was Finance Minister at relevant time to INX Media for receiving foreign investment to tune of Rs. 305 crores against approved inflow of Rs. 4.62 crores, it was held that having regard to nature of allegations and state of investigation, investigating agency has to be given sufficient freedom in process of investigation and grant of anticipatory bail to appellant would hamper investigation and, therefore, instant case being not a fit case for exercise of discretion to grant anticipatory bail to appellant impugned order was not to be interfered with

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