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India's former finance minister Palaniappan Chidambaram sits in a vehicle after he was arrested at his residence in New Delhi. Photo: Reuters

Published: 11:55am, 22 Aug 2019Updated: 10:05pm, 22 Aug 2019

Police arrested former Indian finance minister Palaniappan Chidambaram late on Wednesday in relation to alleged corruption and money laundering, a day after the Delhi High Court rejected his application to seek exemption from arrest.

The Central Bureau of Investigation (CBI) and Enforcement Directorate – India’s financial crime fighting agency – have alleged that Chidambaram abused his official position while he was finance minister. Officials have also alleged he was involved in money laundering and conspired around the approval of a telecommunications deal in 2006.

Chidambaram denied any wrongdoing, speaking at a news conference hours before his arrest.

A supporter tries to stop a vehicle carrying Chidambaram after he was arrested. Photo: Reuters

Chidambaram, who served twice as finance minister in the previous Congress party-led coalition that ran India for a decade, has approached India’s top court seeking to appeal the High Court ruling rejecting his application to prevent an arrest.

The Supreme Court is due to hear his petition on Friday.

“Between now and Friday, I shall walk with a clear conscience and my head held high,” Chidambaram told reporters.