Bengaluru: Former Union finance minister P Chidambaram will continue his stay at the Tihar jail as the Delhi high court has refused to grant him bill in the INX Media case. 

The court held the observation that the accused could influence witnesses. 

Chidambaram, arrested on August 21 by the CBI from his Jor Bagh residence, is in Tihar Jail under judicial custody till October 3.

Also Read: INX media case: CBI tells court Chidambaram destroyed evidence of meeting Indrani Mukerjea

The Central Bureau of Investigation (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 Chidambaram's tenure as the finance minister.

Thereafter, the ED lodged a money laundering case in this regard in 2017.

Earlier, while opposing bail to Chidambaram, the CBI had said it was the "gravest case of economic offences" and the magnitude of financial embezzlement and misuse of high public office disentitles him for any relief.