a battery of senior lawyers including kapil sibal dayan krishnan and as chandhiok appeared for chidambaramchidambaram who was arrested on august 21 by the cbi did not approach the trial court and had directly filed the regular bail plea in the high courtearlier sibal had said it was a collective decision of six secretaries of the central government and other officers to grant fipb approval to inx media and chidambaram being the then finance minister had only signed it he had said that chidambaram was in jail while all others are outsibal and singhvi had contended that it was a not a case of taking out money from the country or cheating a bank and instead money has come in and it was not an economic offence as alleged by the agencyin his rejoinder to the cbis reply on the bail plea chidambaram has denied that he used the influential office of the finance minister for personal gains in connivance with his coconspiratorshe has said that a look out circular has already been issued against him and it is preposterous to allege that he is a flight risk and can evade the process of lawhe has said the rs 305 crore which came to inx media as foreign direct investment were well within the approved percentage of 46216 per centthe cbi in its reply has said the gravity of offences committed by chidambaram for which he is being investigated does not entitle him to seek any relief as it would not only be against the zero tolerance policy on corruption but would also be setting a very wrong precedence in all corruption casesit has said the investigation revealed that chidambaram as the finance minister had demanded illegal gratification and the payments were made in india and overseas to him and his accused son kartichidambaram who was arrested by the cbi from his jor bagh residence here is currently lodged in tihar jail under judicial custody till october 3the cbi had registered an fir on may 15 2017 alleging irregularities in the fipb clearance granted to the inx media group for receiving overseas funds of rs 305 crore in 2007 during chidambarams tenure as the finance ministerthereafter the ed lodged a money laundering case in this regard in 2017