Aircel-Maxis: No arrest for Chidambaram till July-10, but summons tomorrow
Five days after former finance minister P Chidambaram sought relief in the Aircel-Maxis case, a Delhi court today granted him protection from arrest till July 10. But he has to appear before the CBI tomorrow in connection with the probe. The ED has meanwhile sought four weeks to file a reply on his anticipatory bail. Here's all you need to know about the case.
The controversial Aircel-Maxis deal
In 2006, Malaysia-based 'Maxis Communication' bought 74% stake in Indian telecom company Aircel. Then Finance Minister P. Chidambaram had given the Foreign Investment Promotion Board (FIPB) clearance for the Rs. 3500-crore deal to go through.
Fingers raised against the Chidambarams
In 2012, BJP Leader Subramanian Swamy accused Chidambaram of misusing powers in the Aircel-Maxis deal. Swamy alleged Chidambaram couldn't have given FIPB clearance to deals above Rs. 600 crore; they're required to be vetted by the Cabinet Committee of Economic Affairs. He further alleged that Chidambaram delayed clearance until his son Karti received 5% stake in Aircel to benefit from Maxis' investment in Aircel.
Chidambaram denies all accusations
In September'14, CBI initiated an investigation into allegations against Chidambaram. CBI and ED concluded he had exceeded his brief by granting clearance to the deal. Chidambaram vehemently denied the allegations and reiterated that there was no infringement while granting clearance. He has repeatedly claimed the raids on their premises were a "malicious onslaught" against the family, and no incriminating evidence had been unearthed.
Son Karti accused of tampering with evidence
Karti also came under the scanner: documents revealed a substantial increase in his wealth during 2006-2014, when his father was FM. The ED claimed Karti "appears to be the controller and ultimate beneficiary in transactions" including Aircel-Maxis and others, which resulted in alleged forex violations worth crores. It also accused him of attempting to close his bank-accounts to evade action and tampering with evidence.
Despite assurances, Chidambaram refrains from joining probe
In February, Chidambaram moved the SC seeking protection of his family's fundamental rights under Articles 14 (equality before law), 19 (freedom of expression) and 21 (right to life and personal liberty). Incidentally, after assuring cooperation in investigations, the last time he was summoned by ED (May 30), he approached the court for relief. Today too, he was supposed to join investigations, but didn't.
Next hearing against father and son on July 10
The court has now granted him relief till July 10, the next date of hearing, the same day a case against Karti will also come up. Chidambaram is expected to record his statement at the CBI tomorrow. In March, the SC had directed agencies to complete probe in 2G spectrum cases, including the Aircel-Maxis deal, within six months.
