Madras HC grants interim Anticipatory Bail to Nalini Chidambaram in Saradha Chit Fund case

Following a special sitting held today, Justice GK Ilanthirayan of the Madras High Court granted interim anticipatory bail to Senior Advocate Nalini Chidambaram after a chargesheet was filed against her on Friday in the Saradha Chit Fund Scam case..The Central Bureau of Investigation (CBI) had filed a chargesheet at a Kolkata court, alleging that Nalini Chidambaram had received Rs 1.4 crore from the Saradha group of companies between 2010 and 2014..It had been alleged that Chidambaram entered into a criminal conspiracy with Sudipto Sen, proprietor of the Saradha group, after she was introduced to him through one Manoranjana Sinh. The Saradha group was later accused of cheating and fund misappropriation. The CBI alleges that Chidambaram had acted to manage the investigation by agencies such as SEBI, ROC etc. against Sen..This is the sixth supplementary chargesheet filed by the CBI in the matter. In the challenge made to the same, Nalini Chidambaram pointed out that earlier chargesheets had recorded that the money paid to Chidambaram was towards her legal fees as counsel for Sinh..In this backdrop, the latest charge, which converts the money paid to Chidambaram from legal fee to a bribe, has been challenged as a mala fides exercise. The petition presented today argues that the latest charge is part of a larger ploy launched against the family of her husband and former Union Finance Minister, P Chidambaram..“The present charge sheet is the latest in the series of false cases against the members of Mr P Chidambaram’s family. In course of her profession, she received fees from M/s. Saradha Realty Limited on behalf of Mrs. Manoranjana Sinh….…once CBI has recorded in the earlier Supplementary Charge Sheet that the Sarada Group paid Rs 1.4 crore to the Petitioner on behalf of Smt. Manoranjana Sinh towards her legal expenses, there cannot be a change in stand by CBI in the subsequent supplementary charge sheet by changing colour of the payment from legal fees to bribe money.“.Chidambaram also contended that she had been cooperating with the authorities in the investigation of the case, as directed. In view of the latest chargesheet, Chidambaram had moved the anticipatory bail plea apprehending that the CBI is likely to abuse its authority and arrest her..After hearing arguments today, the Court granted Chidambaram four weeks interim anticipatory bail. Chidambaram was directed to furnish sureties in connection with the same before the Jurisdictional Magistrate at Egmore, and thereafter approach the appropriate Court for regular bail.