The Delhi High Court on Monday rejected the regular bail petition filed by senior Congress leader P Chidambaram who is currently in Tihar jail in connection with 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.
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.