The apex court imposed certain conditions on Karti and directed him to furnish an undertaking in three days that he would abide by the conditions and timeline of his visit.
The Central Bureau of Investigation FIR, lodged on May 15, had alleged irregularities in the Foreign Investment Promotion Board clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when Karti Chidambaram's father was the Union finance minister.
A bench of Chief Justice Dipak Mishra said since the investigation was in progress, Karti will not cite the present order of allowing him to go abroad as a precedent in any court.
The bench, also comprising Justices A M Khanwilkar and D Y Chandrachud, asked Karti to furnish documents of grant or non-grant of admission to his daughter in the university on his return from UK.
During the hearing, Additional Solicitor General Tushar Mehta, appearing for the CBI, submitted a note to the court in response to its query on the probe agency's stand on Karti's plea seeking to go abroad.
He said that contempt action be initiated against Karti if he does not return to India after the completion of period of his visit abroad.
Senior advocate Kapil Sibal, appearing for Karti, said he has agreed to furnish an undertaking and contempt action is a natural consequence which may follow if he does not return and hence it should not be mentioned in the order of the court.
The bench while taking the note filed by the CBI on record said that legality of government's Look Out Circular against Karti will be deliberated at the later stage.
It posted the matter for further hearing after three weeks.
In his application, Karti has sought court's permission to visit abroad for his daughter's admission at a college of the Cambridge University in the United Kingdom.
The apex court had on November 9 asked the CBI to apprise it of its stand on allowing Karti's request to go abroad.
The top court is hearing the CBI's appeal challenging the Madras high court order staying the government's LOC against Karti Chidambaram. The CBI had on September 1 said there were "good, cogent" reasons for issuing the LOC.
Earlier, the apex court had said that Karti would not be allowed to leave India without subjecting himself to probe in the case. The court had then stayed the high court order putting on hold the LOC against Karti.
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