Protection from arrest extended till May 6 to PC, son in Aircel Maxis case

Protection from arrest extended till May 6 to PC, son in Aircel Maxis case

Agency News

New Delhi, Apr 26 : Special Judge OP Saini on Friday extended till May 6 interim protection from arrest to former Finance Minister P Chidambaram and his son, Karti, in the Aircel Maxis case.

Karti Chidambaram, 47, was arrested in the month of February last year on the charges of money laundering but was granted bail. Aircel Maxis deal case, which emerged out of 2 G spectrum scandal, pertains to a grant by the Foreign Investment Promotion Board to M/S Global Communication Holding Services Ltd for investment in Aircel.

Directorate of Enforcement has alleged that the FIPB approval granted in Aircel Maxis case in March 2006 by Mr P Chidambaram was beyond his mandate as he was only authorised to accord approval on project proposals up to Rs 600 crore and beyond that it required the approval of the Cabinet Committee on Economic Affairs. After filing the charge sheet on October 25 last year, ED submitted before the court that an alleged payment of Rs. 26 lakh was made by Aircel Televentures Limited to ASCPL, a firm allegedly linked to Karti, within a few days of this FIPB approval and it is investigating "the circumstances of said FIPB approval granted by the then Finance Minister (Chidambaram)".

The Investigating Agency was investigating the case of Aircel Maxis deal of Rs 3500 crore and the INX Media case involving Rs 305 crore.
Mr Chidambaram, a Senior Congress Leader is accused no 1 in the Aircel Maxis case involving approvals from FIPB or the Foreign Investment Promotion Board that were allegedly illegal. Mr Chidambaram is accused of misusing his office as finance minister in the Congress government to clear foreign investment deals in exchange for which his son Karti Chidambaram was given kickbacks.

Central Bureau of Investigation has alleged through its charge sheet that two illegal payments of Rs 26 lakhs and Rs 87 lakh were paid to Karti Chidambaram’s companies Chess Management and Advantage Strategic (allegedly indirectly owned by him) during the Aircel Maxis deal for the FIPB clearance when his father P Chidambaram was the Finance Minister.

Counsel Directorate of Enforcement today submitted before the court that some time may be granted to gather the evidence.
Special Judge O.P. Saini today after hearing the submission on behalf of the Prosecution granted some time and adjourned the matter for May, 06 for further hearing. UNI