p chidambaram

P Chidambaram moves Delhi court seeking anticipatory bail in Aircel-Maxis case

Former Union minister P Chidambaram has on Monday moved Delhi court seeking anticipatory bail in Aircel-Maxis case filed by Central Bureau of Investigation (CBI).

On July 19, the CBI filed a chargesheet against the former finance minister accusing him of misusing his power and position as the finance minister.

P Chidamabaram and son Karti Chidambaram are under scanner of the investigating agencies for money laundering in the Aircel-Maxis case.

P Chidamabaram has been accused of granting approval of Foreign Investment Promotion Board (FIPB) to Global Communication Holding Services, a subsidiary of Maxis Communications, for investing in Aircel. FIPB approval for the deal was allegedly made to benefit Karti Chidambaram.

P Chidambaram allegedly bypassed the Cabinet Committee on Economic Affairs (CCEA) while granting approval for foreign direct investment (FDI) worth Rs 3,500 crore by Global Communications in Aircel, while he had the power to approve FDI only to the tune of Rs 600 crore. That investment was made by a subsidiary of the Malaysia-based Maxis into now-defunct Indian operator Aircel.

Probe agencies say a payment of Rs 26 lakh was made by Aircel to Advantage Strategic Consulting, a firm allegedly linked to Karti, within a few days after the FIPB was approved. Another sum of 2 lakh USD (approximately Rs 90 lakh) was received by Chess Management Services (a company promoted by Karti Chidambaram) and A Palaniappan (nephew of P Chidambaram) from the Maxis group, allegedly for legal compliance software. These payments were allegedly not genuine and bonafide in nature.

Meanwhile, the Supreme Court has allowed Karti Chidambaram to travel to USA, France and UK from July 23 to 31 for business purpose.



News credit : Indiatoday

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