CBI to probe PC’s FIPB nod in Aircel-Maxis deal
21 Sept 2014 4:04 AM IST
It was learnt that the CBI, which filed its chargesheets in this connection on 29 August, has named Chidambaram for his role in granting Global Communication Services, which had sought the Foreign Investment Promotion Board’s approval (FIPB) for $800 million investment.
Further investigation revealed that even former Telecom minister Dayanidhi Maran did not raise objection to the proposal of foreign investment by the Global Communication Services Holding Ltd in Aircel Ltd in 2006.
Informed sources said, usually for such approval (FIPB) Cabinet Committee on Economic Affairs (CCEA) is the competent authority. ‘But in this case we have found that Chidambaram has given the green signal. We would like to know what prompted him to allow the firm in a hurry. His role as a former finance minister in allowing foreign investment by a Mauritius-based company in the Aircel-Maxis deal will be examined,’ CBI sources said.
On 29 August, the CBI has filed a chargesheet against the former Telecom minister and his brother Kalanithi Maran along with six others before Special CBI Judge OP Saini at Patiala House Court in the Aircel-Maxis deal.
Besides the Maran brothers, those who were named in the chargesheet are Malaysian business tycoon and owner of Maxis Group T Ananda Krishnan, Augustus Ralph Marshall (director of Maxis), top executives of Sun Direct TV Pvt. Ltd (owned by Kalanithi who is the managing director of the group), ASTRO All Asia Networks, South Asia Entertainment Holdings Limited in Mauritius and Maxis Communication Berhad.
All of them were charged with punishable offence under section 120B (criminal conspiracy) of the IPC and under relevant provisions of the Prevention of Corruption Act. Former telecom secretary JS Sharma, who is not longer alive, has also been named in the chargesheet. But the CBI has informed the Court that the trial against the accused cannot be preceded since he is no more.
The probe agency has told the Supreme Court that Maran had allegedly forced a Chennai-based telecom promoter C Sivasankaran to sell the stake in Aircel to Malaysian firm Maxis Group in 2006 owned by Ananda Krishnan.
The chargesheet was filed a day after the apex court on 28 August turned down the plea of Dayanidhi seeking to restrain CBI from filing the chargesheet, saying that investigation in the case is still going on.
Further investigation revealed that even former Telecom minister Dayanidhi Maran did not raise objection to the proposal of foreign investment by the Global Communication Services Holding Ltd in Aircel Ltd in 2006.
Informed sources said, usually for such approval (FIPB) Cabinet Committee on Economic Affairs (CCEA) is the competent authority. ‘But in this case we have found that Chidambaram has given the green signal. We would like to know what prompted him to allow the firm in a hurry. His role as a former finance minister in allowing foreign investment by a Mauritius-based company in the Aircel-Maxis deal will be examined,’ CBI sources said.
On 29 August, the CBI has filed a chargesheet against the former Telecom minister and his brother Kalanithi Maran along with six others before Special CBI Judge OP Saini at Patiala House Court in the Aircel-Maxis deal.
Besides the Maran brothers, those who were named in the chargesheet are Malaysian business tycoon and owner of Maxis Group T Ananda Krishnan, Augustus Ralph Marshall (director of Maxis), top executives of Sun Direct TV Pvt. Ltd (owned by Kalanithi who is the managing director of the group), ASTRO All Asia Networks, South Asia Entertainment Holdings Limited in Mauritius and Maxis Communication Berhad.
All of them were charged with punishable offence under section 120B (criminal conspiracy) of the IPC and under relevant provisions of the Prevention of Corruption Act. Former telecom secretary JS Sharma, who is not longer alive, has also been named in the chargesheet. But the CBI has informed the Court that the trial against the accused cannot be preceded since he is no more.
The probe agency has told the Supreme Court that Maran had allegedly forced a Chennai-based telecom promoter C Sivasankaran to sell the stake in Aircel to Malaysian firm Maxis Group in 2006 owned by Ananda Krishnan.
The chargesheet was filed a day after the apex court on 28 August turned down the plea of Dayanidhi seeking to restrain CBI from filing the chargesheet, saying that investigation in the case is still going on.
Next Story
