P Chidambaram and Karti Chidambaram
P Chidambaram and Karti Chidambaram

Aircel-Maxis: Interim protection to P Chidambaram, Karti extended

ANI | Updated: Nov 01, 2018 13:55 IST

New Delhi [India], Nov 1 (ANI): A Delhi court on Thursday extended interim protection from arrest granted to former finance minister P Chidambaram and his son Karti, in connection with the Aircel-Maxis deal case.
The court had extended their interim protection on October 8 while hearing anticipatory bail pleas of the father-son duo seeking protection from arrest by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) in the case. Earlier, the ED had filed a petition in the top court seeking cancellation of interim relief granted to the two.
Meanwhile, the Supreme Court has refused to give an urgent hearing on Karti's plea seeking permission to travel aboard from November 3. "Karti Chidambaram going abroad is not a matter that needs to be taken up tomorrow," the apex court said.
The Aircel Maxis case, which emerged out of the 2G spectrum cases, pertains to a grant of the Foreign Investment Promotion Board (FIPB) approval to firm M/S Global Communication and Services Holdings Limited, Mauritius for investment in Aircel. The FIPB approval was allegedly granted in the year 2006 when Chidambaram was the finance minister.
As per the rules and Foreign Direct Investment (FDI) policy of the government, Chidambaram was only empowered to give approval to proposals involving foreign investment up to Rs 600 crore only. However, he approved the foreign investment proposal of Global Communication and Services Holdings Ltd worth Rs 3560 crore approximately. (ANI)