Jayalalithaa loyalist and Tamil Nadu Finance Minister O. Panneerselvam has been chosen to be the next Chief Minister after the AIADMK supremo was convicted and sent to jail for four years in a corruption case.

Panneerselvam, who was chosen by Jayalalithaa in a similar situation in 2001, was unanimously elected as leader of AIADMK Legislature Party in Chennai last evening, a day after her conviction and sentencing in the Rs 66.65 crore disproportionate assets case. AIR correspondent quoting official sources said that the State Governor has invited Mr. Panneerselvam to form the Ministry.

A Raj Bhavan press release stated that Mr. Panneerselvam has submitted a letter and the resolution passed by the AIADMK legislators electing him as the leader of the AIADMK legislature party. The swearing in is likely to take place today.

Panneerselvam was chosen by Jayalalithaa in 2001 when Supreme Court struck down her appointment as Chief Minister by the then Governor Fathima Beevi following her conviction in Tansi land case. He functioned as interm-Chief Minister for about six months and duly vacated the post after Jayalalithaa was acquitted in the case.

Meanwhile, lawyers for jailed AIADMK President J. Jayalalithaa will move the Karnataka High Court today for bail for her while they were also finalizing a strategy for seeking a stay on her conviction and sentence in the disproportionate assets case.

B Kumar, Senior Counsel for Jayalalithaa said that they will file a bail application today in Karnataka High Court. He said since the sentencing was for a period more than three years, only the high court can grant bail in Jayalalithaa's case.