1. CBI examines P Chidambaram in Aircel-Maxis case

CBI examines P Chidambaram in Aircel-Maxis case

CBI has examined former Finance Minister P Chidamabaram in connection with the Foreign Investment Promotion Board...

By: | New Delhi | Updated: December 16, 2014 5:08 PM
CBI has examined P Chidamabaram in connection with the FIPB clearance given to Rs 3500- crore Aircel-Maxis deal in 2006. Reuters

CBI has examined P Chidamabaram in connection with the FIPB clearance given to Rs 3500- crore Aircel-Maxis deal in 2006. Reuters

CBI has examined former Finance Minister P Chidamabaram in connection with the Foreign Investment Promotion Board (FIPB) clearance given to Rs 3500- crore Aircel-Maxis deal in 2006.

CBI sources said Chidambaram was recently examined in connection with the case on the charge that the Finance Minister was competent for giving sanction only upto Rs 600 crore and the Aircel-Maxis deal was way above that limit.

The sources said the matter should have been referred to the Cabinet Committee on Economic Affairs (CCEA) as foreign investments above Rs 600 crore can only be cleared by Cabinet Committee on Economic Affairs headed by the Prime Minister.

The agency had informed the Special CBI court that how this clearance was given is still under investigation. “We have not concluded the probe on this aspect yet,” CBI prosecutor K K Goel had told the court.

When contacted, Chidambaram told PTI “they (CBI) took a brief statement from me on the FIPB approval. I repeated what I said in my press statement earlier. Nothing more than that”.

Chidambaram had said in September that the file regarding the case was put up before him by officials and he approved it “in the normal course”.

“In the Aircel-Maxis case, the FIPB sought the approval of the Finance Minister in accordance with the rules. The case was submitted through the Additional Secretary and Secretary, DEA. Both of them recommended the case for approval. Approval was granted by me, as Finance Minister, in the normal course”, Chidambaram had said in the statement.

He had said “I understand that the officials of FIPB who dealt with the matter have explained to the CBI that under the rules, as they stood then, the case required only the approval of the Finance Minister.

“I am sure the files will bear out the correctness of this position,” Chidambaram had said.

Chidambaram had said “the FIPB is chaired by the Secretary, Department of Economic Affairs. It recommends proposals for the approval of the Finance Minister and, where required under the rules, the approval of the CCEA”.

The agency had told the court in its charge sheet in the case that Mauritius-based M/s Global Communication Services Holdings Ltd, a subsidiary of Maxis, had sought approval for $800 million for which the CCEA was competent to do so.

In its charge sheet, CBI had named former Telecom Minister Dayanidhi Maran, his brother Kalanithi Maran, T Ananda Krishnan, Malaysian national Augustus Ralph Marshall and four firms — Sun Direct TV Pvt Ltd, Maxis Communication Berhad, South Asia Entertainment Holding

Ltd and Astro All Asia Network PLC — as accused in the case.

They have been charge sheeted for the offences punishable under section 120-B (criminal conspiracy) of IPC and under relevant provisions of Prevention of Corruption Act.

On September 11, CBI had told the court that former Telecom Minister Dayanidhi Maran had “pressurised” and “forced” Chennai-based telecom promoter C Sivasankaran to sell his stakes in Aircel and two subsidiary firms to Malaysian firm Maxis Group in 2006.

The Malaysian firm was favoured by Maran and granted licence within six months after the take over of Aircel in December 2006, it had said.

The 72-page charge sheet includes the names of 151 CBI witnesses and a set of 655 documents on which the agency has relied upon in its investigation.

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Tags: CBI
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