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  India   All India  26 Oct 2018  ED files charges against P Chidambaram in Aircel-Maxis case

ED files charges against P Chidambaram in Aircel-Maxis case

THE ASIAN AGE.
Published : Oct 26, 2018, 1:46 am IST
Updated : Oct 26, 2018, 1:46 am IST

The 72-year-old former minister and his son, Karti Chidambaram, have both denied the allegations levelled against them by the CBI and the ED.

P. Chidambaram (Photo: PTI)
 P. Chidambaram (Photo: PTI)

New Delhi: The Enforcement Directorate on Thursday formally charged former Union finance minister P. Chidambaram of conspiring with foreign investors to clear their venture in the in the Rs 3,500 Aircel-Maxis money laundering case. The court has fixed November 26 for consideration of the chargesheet.

In its chargesheet, filed before special judge O.P. Saini, the ED also named S. Bhaskaraman (chartered accountant of Chidambaram’s son Karti), V. Srinivasan (former CEO of Aircel), Augustus Ralph Marshall (associated with Maxis), Astro All Asia Networks Plc Malaysia, Aircel Televentures Ltd, Maxis Mobile Services, Bumi Armada Berhad and others.

 

The 72-year-old former minister and his son, Karti Chidambaram, have both denied the allegations levelled against them by the CBI and the ED.

The ED has charged the accused under Sections 3 and 4 of the Prevention of Money Laundering Act. If found guilty, they would be liable to a jail term of up to seven years, along with fine. The nine are accused of money laundering of Rs 1.16 crore in lieu of illegal approval by the Foreign Investment Promotion Board (FIPB) accorded by the former minister in March 2006. The approval was given to the foreign investor Global Communication and Services Holdings Limited, Mauritius, in violation of various rules and regulations of the FDI policy.

 

“As per rules and FDI policy of Government of India in 2006, Chidambaram, the then Finance Minister, was empowered to give approval of foreign investment to proposals involving foreign investment up to Rs 600 crore only. The foreign investment proposal of Global Communication and Services Holdings Limited was of $800 million, which amounts to Rs 3,560 crore approximately ($1 was Rs 44.5 then). The foreign investment proposal of Global Communication and Services Holdings Limited should have been referred to the Cabinet Committee on Economic Affairs (CCEA) but it was not done and approved by Chidambaram under a conspiracy,” said the ED, filing the second supplementary chargesheet in the case.

 

The ED had filed the first chargesheet in the case against Karti. Later, a supplementary chargesheet was also filed against him. It said the chargesheet is based on adequate material evidences that are in the form of email communications retrieved from the digital devices seized from Karti and his associates.

Meanwhile, the Delhi high court on Thursday extended till November 29 the interim protection from arrest granted to senior Congress leader P. Chidambaram on his pleas seeking anticipatory bail in the INX Media case lodged by the ED and the CBI. The matter was adjourned to November 29 as Justice A.K. Pathak, before whom the petitions were listed for hearing, was on leave.

 

In a statement, the senior Congress leader said the CBI has already filed a charge sheet in the Aircel-Maxis case. “The ED has now filed a complaint in the same case. If and when summons are issued by the honourable court, the cases will be contested. I will not make any other public comment,” he said.

Tags: p chidambaram, aircel-maxis case, ed
Location: India, Delhi, New Delhi