The Supreme Court on Friday said Karti Chidambaram, son of former finance minister P. Chidambaram, cannot leave the country for now as the court will hold a further hearing on the CBI's plea on October 4.
The bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud said they would hold further hearing after Additional Solicitor General Tushar Mehta, appearing for the CBI, and senior counsel Kapil Sibal, representing Chidambaram, put forth their arguments.
The CBI has moved the top court challenging the Madras High Court order staying its lookout circular against Karti Chidambaram to ensure he does not leave the country.
The CBI claimed in the Supreme Court that a lookout notice was issued against Chidambaram to prevent him from travelling abroad as he was closing several of his foreign bank accounts.
The apex court was informed by the agency that several issues have come out during the investigation and many others were expected to be revealed.
The CBI wanted to place the documents concerning its investigation in a sealed cover before the court.
"What he did abroad is part of this sealed cover," ASG Tushar Mehta told the bench.
Sibal repeatedly protested the ASG's submissions that the agency be allowed to place before it the documents in a sealed cover.
The ASG took the opportunity to briefly submit about the contents of the documents enclosed in the cover.
"Let me say what is contained in the sealed cover. What he has done when he was abroad. He said (during interrogation) he has only one account abroad. But when he went abroad, he closed several bank accounts. I don't want to say all this as it will embarrass him but I have been compelled," he told the bench.
Sibal countered his submission and asked the ASG "did you ask a single question about the bank accounts and property?"
"They interrogated me (Karti), but not a single question was asked on this," Sibal said, adding "if they can show any signature of Karti on any account, they can prosecute him under FEMA or black money law".
The case against Karti pertains to an FIR lodged by the CBI on May 15, alleging irregularities in Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007.
