The court noted the submission of Karti's counsel that he was the son of former union finance and home minister P Chidambaram, now a member of Rajya Sabha who had dealt with various stringent penal laws such as TADA, MCOCA, UAPA and NDPS. He also invoked the death of biscuit baron Rajan Pillai in 1995 and said that he did not want to be exposed to attacks.
The Court, however, dismissed Karti's plea for early hearing of his bail application.
The Delhi court ordered the jail authorities to ensure that adequate security is provided to Karti Chidambaram until March 24. After being grilled in police custody during the last few days, the CBI on Monday produced Karti in a Delhi court after his three-day police custody in the INX Media corruption case expired.
After the Central Bureau of Investigation (CBI) told Special Judge Sunil Rana they did not require further custody of Karti Chidambaram, the court remanded him in judicial custody. The CBI said Karti remained "evasive" and "non-cooperative" during interrogation and sought 15 days judicial custody. "Some of the accused related to those cases are lodged in Tihar so I apprehend a great threat to my security", he said.
Opposing the security application, the CBI argued that while there may be a threat to P Chidambaram, no threat lies to Karti or his family members, as they continue to travel around the country at free will.
It is noteworthy that Karti's lawyer Abhishek Manu Singhvi, asking for an extension of the remand, said that the CBI comes with some excuse for remand every time. The court is likely to hear the CBI matter on March 19.
The former finance minister's son is being investigated by the CBI for laundering money he received as payoffs to facilitate investment approval in INX Media when his father was the country's finance minister.
Meanwhile, Karti's CA, S Bhaskararaman, has moved the court for anticipatory bail in the same case. It, however, later revised the figure to $1 million (about Rs 6.50 crore at the current exchange rate and Rs 4.50 crore in 2007). The fresh evidence in the case, which triggered Karti's arrest, was based on the statement of Indrani Mukerjea, former director of INX Media (P) Ltd who had recorded it under section 164 of the CrPC before a magistrate on February 17.