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HomeJudiciaryP Chidambaram, son Karti get regular bail in Aircel-Maxis cases

P Chidambaram, son Karti get regular bail in Aircel-Maxis cases

Chidambaram allegedly got approval for the Aircel-Maxis deal in 2006 beyond his capacity, an act that benefitted certain people.

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New Delhi: New Delhi: A Delhi Court on Wednesday granted regular bail to former Union minister P Chidambaram and his son Karti in corruption and money-laundering cases in relation to the Aircel-Maxis deal, filed by CBI and ED.

The court, which had earlier granted them anticipatory bail, accepted the bail bonds of Rs one lakh each in both the cases and granted regular bail.

The two Congress leaders were granted regular bail after more than two years of getting an anticipatory bail. In September 2019, a Delhi special court — while granting them anticipatory bail — had noted the allegations against them were “not of a grave magnitude”. It had also come down heavily on the probe agencies for the “unexplained delay in investigation” and “unwarranted discrimination” between two sets of accused.

The case relates to alleged irregularities in the grant of Foreign Investment Promotion Board (FIPB) approval when Maxis acquired mobile operator Aircel.

Central Bureau of Investigation and the Enforcement Directorate alleged that Chidambaram, who was then the finance minister, played a role in getting the approval in 2006. They claimed he approved the deal beyond his capacity benefiting certain people, and that he also received kickbacks.

The Aircel-Maxis deal was worth over Rs 3,500 crore and should have been referred to the Cabinet Committee on Economic Affairs (CCEA) since the Finance Minister had authority to clear FDI approvals through FIPB only up to Rs 600 crore, the agencies had said.

The investigating agencies also alleged a company “indirectly controlled” by Karti, Advantage Strategic Consulting Pvt Ltd (ASCPL), had received a consultancy fee of Rs 26 lakh from Aircel Televentures.

The Chidambarams have claimed the case to be a ‘political vendetta’. In his defence, the former union minister had said that all the deals and decisions made with regards to the deal were discussed with the board, recorded on files and were also taken by the FIPB board.


Also read: Chidambaram’s statement in 2014 made on OROP was without cabinet approval: Centre to SC


 

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