Court extends Protection from Arrest to P.Chidambaram and Karti till Jan 11 in Aircel-Maxis case



Court extends Protection from Arrest to P.Chidambaram and Karti till Jan 11 in Aircel-Maxis case

December 18: A Delhi Court Special Judge O.P. Saini on Tuesday extended the relief granted from arrest to former Union Minister P. Chidambaram and his son Karti Chidambaram in the Aircel-Maxis case till January 11.

Simultaneously, Judge O. P. Sahni also granted time to the CBI till January 11 to obtain sanction from the authorities concerned in order to proceed with the prosecution of some of the people accused in the case.

The Central Bureau of Investigation and Enforcement Directorate today informed the Court that new material had been recovered during the probe which need to be collated.

Earlier, on November 26, the probing agency CBI,  informed the court that the Centre has granted sanction to prosecute former Union Minister P. Chidambaram and the CBI sought two more weeks time to obtain sanction against other accused in the case.

The issue pertains to alleged irregularities in grant of FIPB approval in Aircel-Maxis deal. Both agencies Enforcement Directorate(ED) as well as Central Bureau of Investigation (CBI) are probing Chidambaram's alleged role in  Aircel-Maxis deal and in INX Media case and contended that INX Media had deliberately acted in violation of the conditions of the approval and made a downstream investment of 26 per cent in the capital of INX News Pvt Ltd without specific approval of FIPB, which included indirect foreign investment by some foreign investors, and generated Rs. 305 crore foreign direct investment in INX Media Pvt Ltd against the approved foreign inflow of Rs 4.62 crore.

CBI regarding Aircel-Maxis case, in its chargesheet, alleged that Chidambaram had granted an FIPB approval in March, 2006 to Mauritius-based Global Communication Services Holdings Ltd, which was a subsidiary of Maxis, and accused him for his alleged involvement in a conspiracy with foreign investors to get clearance for their venture.

The alleged irregularities took place when Chidambaram was the finance minister during the UPA-1 government.

Nonetheless, on November 24, a rejoinder had been filed by the former finance minister   before special CBI Judge OP Saini reiterating once again that the allegations levelled against him  by CBI and ED pertaining to the money laundering case in the Aircel-Maxis have no base and are fabricated, further adding that the a valid due procedure had been followed while granting the clearances in the deal.

 

Aircel-Maxis deal case
Enforcement Directorate (ED)
Foreign Investment Promotion Board (FIPB)
INX Media
Karti Chidambaram
Money Laundering
P Chidambaram
UPA Government

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