Delhi High Court on Monday dismissed the regular bail plea filed by senior Congress leader P Chidambaram saying that he might influence witnesses in the INX media case.
Justice Suresh Kumar Kait dismissed his plea observing that the investigation is in the advanced stage and that the accused might influence the witnesses.
"CBI has provided two material witnesses that have been approached for not to disclose any information regarding the petitioner (Chidambaram) and his son (Karti). This court cannot dispute the fact that the petitioner has been a Finance Minister, Home Minister and presently is an MP," the court said in its order.
The court said that a murder is committed in the heat of the moment but an economic offence is committed with cool calculation and deliberate design with an eye on personal profit regardless of the consequence to the community.
"It is fact that the entire community is aggrieved if the economic offenders who ruin the economy of the state are not brought to book as such offences affect the very fabric of democratic governance and probity in public life," the order read.
The court also observed that it cannot be disputed that if the case is proved against the Chidambaram, the offence is on the society, economy, financial stability and integrity of the country.
"The economic offences constitute a class apart and a class by itself, as it cuts the very root of probity and purity of public administration and results in eroding the public confidence which it reposes on the government elected by it," it read.
The Central Bureau of Investigation (CBI) had arrested Chidambaram on August 21 following which he was sent to judicial custody in Tihar jail till October 3 by a Delhi court.
While CBI is probing the corruption allegations, the Enforcement Directorate (ED) is looking into money laundering allegations against him in the case.
Chidambaram is facing probe for alleged irregularities in the Foreign Investment Promotion Board (FIPB) clearance given to INX Media to the tune of Rs 305 crore in 2007 when he was the union finance minister.
( With inputs from ANI )