The Patiala House Court in Delhi has adjourned the hearing in the Aircel Maxis case till January 11, 2019. Last month, former union minister P Chidambaram and his son Karti were charged with money laundering by the Enforcement Directorate in the case.
Adjourning the case, the court also extended the interim protection from arrest provided to Karti Chidambaram and P Chidambaram till January 11 in both the CBI and ED cases.
The CBI had told the court last month that it had obtained the Centre’s approval to prosecute Chidambaram in the Aircel Maxis case.
In the previous hearing, the court had extended the arrest shield for P Chidambaram and his son till December 18 after the CBI had said that it needed two more weeks to get sanctions against the other accused in the case.
The Aircel Maxis case refers to a 2006 investment in Indian telco Aircel Ltd by Malaysia’s Maxis Communications which, the CBI says, was in violation of the then prevailing foreign investments laws.
The CBI has alleged that despite the fact that investment of $800 million (over ₹3,500 crore) was made in Aircel by Maxis, and the Cabinet committee on economic affairs was the competent authority to grant approval, the investment proposal was wrongly projected as merely involving an investment of ₹180 crore and the approval was granted by P Chidambaram, who was the then finance minister.
{{/usCountry}}The CBI has alleged that despite the fact that investment of $800 million (over ₹3,500 crore) was made in Aircel by Maxis, and the Cabinet committee on economic affairs was the competent authority to grant approval, the investment proposal was wrongly projected as merely involving an investment of ₹180 crore and the approval was granted by P Chidambaram, who was the then finance minister.
{{/usCountry}}Investigators alleged that Aircel had paid around ₹26 lakh to Advantage Strategic Consulting Private (ASCPL) Limited on April 11, 2006. The CBI alleged that ASCPL was controlled by Chidambaram’s son Karti Chidambaram.
Investigators have also alleged that another company of Karti Chidambaram, Chess Management Services Private Limited received $200,000 from Malaysian companies such as Bumi Armada Berhad and Astro All Asia Networks Plc, all connected with Maxis, between 2007 and 2012.