New Delhi -°C
Today in New Delhi, India

Oct 20, 2019-Sunday



Select city

Metro cities - Delhi, Mumbai, Chennai, Kolkata

Other cities - Noida, Gurgaon, Bengaluru, Hyderabad, Bhopal , Chandigarh , Dehradun, Indore, Jaipur, Lucknow, Patna, Ranchi

Sunday, Oct 20, 2019

Aircel-Maxis case: CBI informs Delhi court it has sanction to prosecute P Chidambaram

The CBI on Monday informed a Delhi court that it has procured the requisite sanction from the authorities concerned to prosecute former Union minister P Chidambaram in the Aircel-Maxis case.

india Updated: Nov 26, 2018 20:06 IST
HT Correspondent
HT Correspondent
New Delhi
Former Union minister P Chidambaram
Former Union minister P Chidambaram(PTI)

The Centre has given the CBI its go-ahead to prosecute former union minister P Chidambaram in the Aircel Maxis case, the CBI told a Delhi court on Monday, according to PTI.

Chidambaram and his son Karti were charged with money laundering by the Enforcement Directorate in the case last month. The CBI had filed charges against him in July this year. The court extended the arrest shield for the P Chidambaram and his son till 18 December after the Central Bureau of Investigation said it needed two weeks to get sanction against other accused in the case.

The case refers to a 2006 investment in Indian telco Aircel Ltd by Malaysia’s Maxis Communications which, according to CBI, was a violation of then prevailing foreign investments laws.

CBI has alleged that despite the fact that investment of $800 million (over Rs 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 Rs 180 crore and approval was granted by the then finance minister P Chidambaram.

Investigators alleged that Aircel paid around Rs 26 lakh to Advantage Strategic Consulting Private Limited on April 11, 2006 and that this company 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

Chidambaram has denied that he had unlawfully granted approval and insisted that the foreign investment panel, a body comprising top civil servants, decides who is the competent authority to clear foreign investment in a given case.

P Chidambaram and his son Karti Chidambaram were named in the CBI chargehsheet filed by the CBI on July 19, just a day before the Lok Sabha was slated to debate a no-confidence motion against the government.

Also Read: Aircel-Maxis case: CBI allegations are ‘false, baseless’, Chidambaram tells court

First Published: Nov 26, 2018 15:01 IST

top news