Former Finance Minister P. Chidambaram now faces arrest by the Enforcement Directorate (ED) in the INX Media case after the Supreme Court on Thursday refused his plea to grant him anticipatory bail.

A bench headed by Justice R. Banumathi said: "This is not a fit case for grant of anticipatory bail. Investigating agency has to be given enough freedom to probe."

Making an observation on the alleged economic offences, the court said the offences are serious in nature and anticipatory bail has to be an exception when probe is going on in such cases.

The court expressed apprehension that if the bail is granted, the accused may tamper with the evidence and destroy the money trial.

The court observed that granting anticipatory bail at this stage would hamper the investigation, and therefore the accused may move a regular bail plea before an appropriate court.

Chidambaram is under the custody of the Central Bureau of Investigation (CBI) in the INX Media case since his arrest on August 21.