Aircel-Maxis case: CBI given green light to prosecute P Chidambaram
On Monday, the Central Bureau of Investigation (CBI) told a Delhi court that the Centre had given it the green light to go ahead and prosecute former Union minister P Chidambaram in the Aircel-Maxis case. This development comes on the back of the Enforcement Directorate (ED) filing charges of money laundering against Chidambaram and his son Karti last month. Here's more.
The Chidambarams and the Aircel-Maxis case
The Aircel-Maxis case dates back to 2006 when Maxis purchased a 74% stake in Airtel. Allegedly, although Maxis made an investment of Rs. 3,500cr, the investment proposal cleared by then Finance Minister P Chidambaram wrongly projected the investment as being just Rs. 180cr. Investigators have also alleged that companies controlled by the Chidambarams had received payments from Aircel and other Maxis-connected companies between 2007 and 2012.
The Chidambarams have been shielded from arrest till December 18
In March this year, the Supreme Court ordered the CBI and ED to finish their investigations into the 2G spectrum allocation cases, including the Aircel-Maxis case. Subsequently, in July, the CBI filed a chargesheet in connection with the case, and in October, the ED did the same. However, the Chidambarams, who deny all charges, have been shielded from arrest till December 18.
In October, Karti Chidambaram's assets were seized
Meanwhile, in October, the ED attached Rs. 54cr worth of assets belonging to Karti Chidambaram in connection with another alleged money laundering case - the INX Media case. The ED alleged that Chidambaram had influenced an approval given to an investment in INX in 2007, and had received Rs. 90cr as "consultancy charges" for exercising his influence. Chidambaram, however, denied the charges and alleged conspiracy.
